Tankless water heaters are becoming more and more popular as homeowners need to upgrade. While they are often a larger upfront investment than their traditional counterparts, tankless heaters can have some interesting long-term advantages. If you’re considering a water heater update soon, here’s all you need to know about tankless water heaters.
Installation Advantages and Downsides:
Tankless water heaters require less space than their traditional counterparts, which means you may have an easier time finding a tankless water heater into a cramped area. However, if you are faced with already equipped for a traditional water heater your installation will probably require more work to get it ready for the tankless option, which can result in additional fees. Depending on the age of your pipes, you may even need to upgrade your piping.
Tankless water heaters are between 24% to 34% more efficient than tank water heater models, according to the U.S. Department of Energy. Long-term, this can result in a lot of savings for the average homeowner. Especially since a tankless water heater’s lifespan is–on average–approximately 20 years.
On-Demand Hot Water:
Tankless water heaters are also known as on-demand water heaters, this is for a reason. Tankless water heaters get hot water to you much more quickly than a traditional water heater. Instead of waiting for water to run and for the tap to heat up, tankless water heaters allow more instantaneous hot water to be accessible. However, make no mistake, depending on your climate and how close your pipes are to the cold ground, hot be truly instant as the name can imply.
You May Qualify for Rebates
As with many other eco-friendly updates, your area may offer incentives or tax rebates to help offset the cost of your purchase. If you are thinking of installing a tankless water heater, check with your local tax advisor to assess the possibility of capitalizing on any eco-friendly rebate options for your area.
Replacing your water heater is always an expensive upfront cost, and upgrading to a tankless water heater may be an even more expensive project. In some instances, particularly in colder climates with high energy costs, the fees may offset your savings enough that a tankless water heater isn’t a worthwhile upgrade. However, for many homeowners, a tankless water heater is an excellent option. Make sure to speak with an expert in your area to find out what will be best for your home.