As with most home appliances, today’s consumer is looking for energy efficiency. It is well known that the cost of heating water is one of the largest expenses in most homes; therefore, cost conscious homeowners are looking for energy conserving hot water solutions.
The tankless water heating system is currently the most popular because it boasts an annual savings of 25% compared to a standard 40-gallon water heater. Tankless water heaters are also called an “on-demand” system because, instead of continuously maintaining a tank full of hot water, a tankless water heater operates only as needed. When hot water is required, cold water is heated by a gas burner or electric element to a predetermined temperature as it makes its way through the tankless water heater.
Obviously, both systems have their pros and cons. Homeowners should evaluate these together in order to make the best decision possible. Likewise, current homeowners looking to upgrade should consult with their local plumbing professional to help them decide what is right for their individual needs. Standard water heaters, with their proven track record, are cheaper to purchase and install, as well as relatively inexpensive to repair and replace. Of course, on the down side, standard tanks are always “on” and their bulky size requires a lot of space. Less durable than a tankless system, which can last for 20 or more years, the standard heater has a lifespan of 12 to 14 years. A tankless water heating system is more energy efficient and its compact size allows versatility of installation. However, the unit can cost at least twice as much as a traditional storage tank; installation and retrofit for remodels is very expensive as well.
