Tankless water heaters are also known as on demand water heaters. These water heaters don’t require a tank to be filled and heat your water as soon as you turn on your faucet. There are a lot of benefits to the tankless water heater one of the most popular being that it saves families on average $100 or more on water usage. These water heater options are becoming increasingly popular among many homeowners and its not hard to see why!
Cost of A Tankless Water Heater
There are many factors that go into the cost of tankless water heater including things like system size and whether new piping or wiring is needed. Upfront costs can be scary but the longterm benefits of a tankless water heater is well worth it. A lot of the price differs mainly on the fuel type. For an electric tankless water heater you can expect to pay $1000 for the heater and installation while a gas powered one can run up to $3000 for equipment and installation. Based on just equipment alone, an electric powered tankless water heater is around $600 and gas powered is around $1100.
Benefits of a Tankless Water Heater
Homeowners are becoming more apt to install tankless water heaters because of the many benefits that they offer. These types of water heaters are becoming popular not just because of the energy efficiency perks but also the instant hot water you get as well. There are mnay great benefits of a tankless water heater and we’ll dive in deeper to discover all the good!
Instant Hot Water
One of the greatest benefits of a tankless water heaters is the instant and constant stream of hot water. This is a great benefit because there’s no need to wait around for a tank to be refilled, as soon as the faucet turns on you can expect hot water.
Longer Lifespan
Homeowners love that the tankless water heater has a much longer lifespan than that of a tank water heater. Even though a standard sized water heater can last a decade, the tankless models will last twice as long. Having a tankless water heater can prevent having to replace a tank water heater every 10 years which can save on money in the longrun.
Low Monthly Cost
These systems can be more expensive than the traditional tank water heater but are more efficient. Tankless water heaters are actually 22% more efficient than their tank counterparts. Monthly savings may seem normal, but you will see hundreds of dollars saved yearly.
Save on Space
In short, there’s no tank that is going to be taking up a whole lot of space. Most often these water heaters are mounted on the wall and save a lot of space.
Different Options Available
There are different options available for different power sources like both gas and electric. This makes it even more convenient to have these options and not feel limited.
Longer Warranties
A great benefit of having a longer lifespan with a tankless water heater is they come with longer warranties. A tankless water heater will last around 20 years and most come with warranties that cover the lifespan of these water heaters.