Tankless Water Heater Pros and Cons
Perhaps your current traditional water heater is acting up or you’re looking to make your home more efficient. Either way, you have probably considered upgrading to an electric or tankless gas water heater. And it makes sense. According to a Consumer Report study, gas-powered tankless water heaters are nearly 22% more efficient than traditional tank models. Not only that, but these tankless hot water heaters can also provide 2-5 gallons of hot water a minute. Sounds great, but this does come at a cost. There are several benefits of tankless water heaters and a few negatives to consider before investing. We’ll review the tankless hot water heater pros and cons to help you make a better decision.
Benefits of Tankless Water Heaters
Instant Hot Water
One of the most obvious benefits is instant hot water. This can save tremendous amounts of water now you don’t have to wait for the shower to heat up. Consider each person in your house and think about how much water you could ave. Get on with your day, reduce water waste, and save money.
With a traditional tank water heater, the water is constantly being reheated to keep it hot. It doesn’t matter if you’re using the water, at home, in the country, a traditional water heater is reheating the same water throughout the day. This takes energy which costs you money.
Longer Life Span
One of the main benefits of tankless water heaters is the extended life span. A standard tank model will last about 10 years. Tankless water heaters can go 20 years or more. Going with a tankless gas water heater will save you from needing to make this investment once a decade to once every two decades.
Those tanks can take up a lot of space! Because of the heating process in tankless models, they can be much smaller. They tend to look more attractive too. For tankless installation, models are typically mounted to the wall in a garage, out of sight and out of mind. If you live in a smaller living home where every inch matters, it can be helpful.
That’s right! Nothing like getting to keep more of your money in your pocket. Because tankless units are more energy-efficient, they qualify for federal tax credits to help offset initial costs. As of December 2016, the federal government offers a 10% tax credit on the buying and installation of a tankless hot water heater. Of the electric tankless water heater pros and cons, this is one of the best pros for your wallet.
Negatives of Tankless Water Heaters
This is the main drawback of tankless water heaters. Because of the materials used to build a longer-lasting product, it inherently costs more to produce. A standard tank model can cost approximately $500, a tankless model is closer to $1,000. The installation of tankless water heaters also tends to be more intricate, especially if it is your first one. A new install may require updated gas lines or a water softener. A skilled technician can accommodate this for you however the initial costs are higher than the traditional tank water heater.
Not Enough Hot Water
Depending on the size of your home, both square footage and the number of people, one tankless water heater may not be enough for consistent, instant hot water. For more households, this is not an issue, but for some, it is something to discuss with a professional.
Tankless Water Heater Pros and Cons
There are numerous benefits of tankless water heaters that all contribute to a lower monthly cost of ownership. These models save water, reduce the carbon footprint on the planet, and ease landfill concerns. Also, they come with a nice federal government tax credit. The negative, of course, is the initial upfront costs associated with the unit, installation, and potential home updates. It can sometimes take a few years to offset these costs. Consulting with current owners and professionals is a great way to get a better understanding of what is best for you and your home.