Tankless water heaters are one of the newer ways to give your home a valuable upgrade, in many more ways than one. Not only will a tankless water heater make your home more energy efficient, but you’ll also end up saving money in the long run. However, the benefits for you and your family don’t end there. Here are some important reasons why converting to a tankless water heater is well worth the investment.
Billy Henley the Vice President of BHI Plumbing, Heating & Air in Corona explains, “tankless water heaters are very energy efficient. The energy cost savings alone will help pay for the price different over time.”
More Energy Efficiency
Unlike traditional water heaters that heat and reheat water continuously, tankless water heaters instantly generate hot water with either electric coils or high-powered gas burners. Although this requires more power, tankless heaters don’t reheat water again and again, reducing your energy use by 24 to 34 percent.
Lower Utility Bills
Due to less energy use, tankless water heaters can save you hundreds of dollars per year on your utility bills. They conserve anywhere from 27 to 50 percent more energy than tank heaters, even while servicing high demand points in your home, such as the kitchen, laundry room and bathrooms.
No Standby Heat Loss
Another big selling point for tankless water heaters is the elimination of standby heat loss. Traditional units use energy even when no one is in the home by repeatedly reheating the water that is stored in the tank.
Tax Breaks and Special Financing
Many tankless water heaters come with a $300 federal tax rebate due to being more efficient. In addition, the federal government offers a tax credit of 10 percent for the total cost of purchasing and installing a tankless water heater.
Longer Life Span, Longer Warranty
Tankless water heaters last from 5 to 10 years longer than traditional water heaters. With excellent maintenance, they can last up to 20 years. Due to their longer life spans, tankless units typically have longer warranties, often running up to the average lifespan of 20 years.
Endless Hot Water
It’s not uncommon for homes with tank water heaters to run out of hot water since the total supply is stored in a tank. With tankless units, heating elements offer hot water only when you need it and for as long as you need it.
Because traditional water heaters typically hold 40 to 60 gallons of water, they need to measure around 60 inches tall and 24 inches wide. The standard size of a tankless water heater is around 28 inches tall, 20 inches wide and just 10 inches deep. These smaller water heaters can be installed in closets or under cabinets, nearer to the point of use.
Compared to tank water heaters, tankless units require little upkeep. While tank heaters typically need service every 6 months, tankless water heaters can go 4 to 5 years before needing maintenance. However, an annual cleaning is recommended if you live in an area with hard water. A 60-minute flush with a vinegar solution will remove sediment.
Electric Models Available
Although tankless units are often fueled by natural gas, electrical models are available. Depending on your home’s electrical infrastructure, an electric unit may solve the problem of rerouting gas lines or the high cost of labor-intensive alterations. In addition, electric units won’t produce greenhouse gases.
Although tankless water heaters are more costly to buy and install than a traditional unit, they offer many long-term benefits. You’ll not only save money on your utility bills, but also conserve valuable space in your home. Furthermore, you’ll always have hot water when you need it, as well as peace of mind knowing that your tankless water heater will be operating for up to a couple of decades.