In this day and age, every homeowner is looking for ways to save money. Individuals are installing energy efficient windows, CFL light bulbs, and searching for small ways to reduce their utility bills. Well, one of the bests ways to achieve this is by getting an electric tankless water heater.
With a conventional water heater, you are always heating your water in a large tank in the basement. This is wasteful and inefficient considering the options available today. Generally, going tankless will give you increased energy efficiency, save on space, lower running costs and even extend the appliance’s lifespan.
The first thing that you probably want to know is how much energy, and thus, how much money you’re going to save. Well, initially, you’re going to spend more to get a tankless water heater, including the installation process. Conventional tank heaters go for as low as $400, but they can go up to $1000, depending on the size and other features.
However, their tankless counterparts start from $1000 and increase depending on the different options in the market. This makes a significant price difference compared to conventional water heaters. This can make it hard for homeowners who don’t have such a budget. However, even if the initial cost is higher for outdoor electric heat, it will certainly make up for the additional cost in the long run.
The running costs of a tankless water heater are substantially less over time compared to the monthly water and electricity bills of a conventional water heater. You also get to save time and money on standby heat. Tank heaters are always losing heat as the water tends to be sitting idly. With a tankless option, however, you don’t get to waste heat as the water is heating when you require it.
Another benefit of getting a tankless water heater is durability. A conventional heater lasts between 10 and 15 years, while a tankless one can last up to two decades. If you do not plan to move for several years, then it makes sense to have a tankless water heater, as it will save you on costly replacements. Also, if you don’t plan on moving for the next 2 decades, having a tankless water heater substantially increases the value of your home.
Another huge but, not usually talked about benefit of tankless heaters is the amount of space that they save. Conventional heaters usually have a 40-60 gallon capacity. This makes them about 24 inches wide and 60 inches tall. This is a lot of room and makes it hard to install for small homes. Tankless water heaters, on the other hand, are often the size of a big computer. On average, they measure 28 inches tall and 20 inches wide. Also, they are no more than 10 inches deep. They resemble a small box hanging on the wall. If you own a small house or could use the space, then a tankless water heater is the way to go.
The only major drawback with tankless heaters is the limited output for larger and busy families. As mentioned above, typical tank heaters store up to 60 gallons of hot water and can reheat more quickly, ensuring that hot water doesn’t run out easily. This allows bigger families to do multiple things like bathing and do the laundry without running out of hot water. Tankless water heaters can supply several gallons of hot water for when needed, but they can only supply to a certain extent at a time. So, if your family is big and usually busy in that everyone showers at the same time and run the dishwasher and cleaning machine as well, then a tankless heater might not be adequate for your household.
If you are on the search for an efficient way to heat your water, then consider a tankless water heater. You can search online for the best deals in your budget bracket. There are numerous tankless water heaters out there. To ensure you get the best one, read reviews, testimonials and even ask for recommendations from people that you know own one.