I’m just going to cut straight to the chase and ask the questions every one of you has in mind right now: Are tankless water heaters worth the upgrade? Am I going save or lose money? Are they more efficient than tank heaters?
Well, tankless water heaters, be it electric or gas powered, are overtaking the market for a reason and that is because the manufacturers believe that these water heaters are better than all others. You see, companies would only invest in a new product if it has potential. Therefore, tankless water heaters must be better, right?
Well, tankless water heaters cost a bit more on initial cost (Electric: under 1000$ – Gas: under 3000$ including installation) when compared to regular water heaters but they do promise to save up to 40% of energy consumption. Thus, these water heaters should be able to make up for their cost in the long run.
Also, tankless water heaters are only activated when you turn on hot water in your house hold which means that they save you the extra cost of maintaining 40 to 60 gallons of hot water as is the case with traditional water heaters. Nonetheless, the barrier between traditional water heaters with tanks and tankless water heaters is still foggy and that doesn’t help you make up your mind. In that case, let me make it a little bit easier for you.
Pros of Tankless Water Heaters
- You will never run out of hot water all around your house hold, assuming you’ve chosen a tankless water heater with a big GPM flow capacity.
- They are very effective at instantly heating your water.
- They will last years longer than tank heaters, knowing that these tanks require constant maintenance before they eventually give up.
- They are very practical space-wise as they do just fine mounted to a wall. Also, they don’t require all that much space for a big fat tank.
- They only require sufficient energy to heat water when needed and shut down right after hot water is turned off.
- The majority of gas powered heaters benefit from up to $300 governmental tax rebate.
- A tankless water heater promises to save you up to 20% on your electric bill.
- These heaters can be remotely controlled and offer up to four separate settings.
- You will never worry about flooding due to a broken tank.
- Tankless water heaters typically offer a longer warranty on their products which can go from 6 to 15 years to lifetime with some products.
Cons of Tankless Water Heaters
- Tankless water heaters will hit you hard initially because they cost up to 3 times more than a tank heater and they often require a specialist to install them, meaning additional cost.
- Electric tankless water heaters may require hiring an electrician and upgrading your whole electric circuit to suit the heater’s needs which accounts for a huge bill.
- Not all tankless water heaters are suitable for all users. Making this purchase depends on the size of your home and the intended use. A bigger home requires a bigger heater.
- According to specialists, these heaters may have come a little bit earlier to their time and would be much more suitable for future buildings and users.
Hopefully, these pros and cons helped make things a little bit clearer for you and made the choice easier.
Lastly, Tankless water heaters are undisputedly the future of heaters. But did they come a little too early for us? Maybe. But then again, maybe it is the motive to push us to upgrade our homes and our electrical circuits, our heating systems and at the same time teach us a thing or two about conserving energy.
If you want my honest opinion, I think that tankless water heaters are not a must and you can do okay with regular tank heaters for the moment. However, if you already have the budget and do not know where to put it yet then tankless water heaters would be your safest and smartest choice.
The cost of these heaters might be hard to swallow at first but in time, they will make up for that through saving you up to a 100$ annually on your electric bill. Not only that, but the warranty on these heaters speaks for itself. When you will get one of these tankless water heaters and get through the first bill, you can pretty much cruise carefree, enjoy your hot water and pay less every month.
So, in order to make an informed buying decision, read our unrivaled, all-inclusive tankless water heaters buying guide in which we explained in details all the relevant specifications and guidelines of how to choose the best tankless water heater.