Instant hot water heaters have become fairly popular among many homeowners. These are most commonly known as tankless water heaters or “on demand” hot water heaters. Your options for these instant hot water heaters is fairly simple just depending on the fuel type you want whether it is gas or electric. The benefits of these heaters are mostly the same by giving you hot water on demand, saving on energy bills, and saving space. The initial upfront cost of these water heaters can seem like a lot but over the years they can save you hundreds of dollars because of their energy efficient benefits.
Gas Tankless Water Heaters
Your first option in an instant hot water heater is the gas tankless water heater. These hot water heaters offer hot water on demand rather than having to wait around and they come in handy if you experience a power outage because you won’t be left without hot water.
Types of Gas Tankless Water Heaters
There are different types of fuel for the two main tankless water heaters but there is also a difference in fuel type for the gas tankless water heater. You can choose from natural gas or propane to power your tankless water heater.
Cost of Gas Tankless Water Heater
Typically, the initial set up costs such as the equipment and installation for the gas tankless water heater is higher but they do have a lower operating cost. The cost of installing a gas tankless water heater is around $3000 including the equipment, any permits required, and hiring a professional to have it installed.
Electric Tankless Water Heaters
Electric tankless water heaters are the second option you have available for your instant hot water heaters. These water heaters require electricity rather than gas which can save even more room because it gets rid of the needs for any type of ventilation.
Cost of Electric Tankless Water Heaters
The cost of an electric tankless water heater is significantly lower than that of a gas tankless water heater costing around $1200. The downfall of the installation price is there is the possibility of needing to rewire the house for this tankless water heater which can run as high as $5000. The start up cost of this water heater can be daunting but after the initial costs are taken care of you will be on the way to saving money because of how efficient the tankless water heaters are.
Benefits of Electric Water Heaters
An important benefit of this style tankless water heater is the energy efficiency which can reduce energy consumption by 34%. By reducing the energy of the tankless water heater you can expect to see a savings on your utility bills. Another great benefit to these tankless heaters is their life expectancy. A typical tank water heater will last around 10 years but you can expect double that with a tankless water heater.
A great benefit of both of these tankless water heaters is that they can give hot water on demand and they can save a ton of space. Having them as a wall mounted unit or even the option of installing them between studs creates more room that you can use for storage. These tankless heaters will last around 20 years and most often come with warranties that last just as long. You really can’t go wrong with either choice and it is up to your preference as a homeowner but both are guaranteed to give you on demand hot water and annual savings!