Energy Efficient Tankless Water Heaters
As homeowners are faced with the task of replacing aging appliances, many consider how to make their homes more energy efficient. One appliance that is particularly easy to upgrade is the water heater. Knowing that traditional tank style water heaters can use as much as 30% of a home’s energy, savvy homeowners are looking to replace them with a much more efficient tankless design.
Are Tankless Water Heaters Worth Their Cost?
Unlike traditional water heaters, tankless water heaters do not require a holding tank of water that has to be continuously heated, regardless of whether or not it’s being used, which wastes large amounts of energy. Tankless water heaters only heat what is needed, when it is needed. Since tankless water heaters never run out of hot water, they are able to supply hot water to multiple appliances at once. Without a large reservoir of water being stored in the attic, crawlspace or garage, homeowners never have to worry about damage from leaking water heaters.
Installing a new tankless water heater in a home does come with some considerations. They cost more upfront to install than a traditional water heater due to a possible need to run new plumbing, gas, and electrical lines to the tankless model. Tankless water heaters are more expensive than traditional water heaters, but their operating costs are lower over time. The EPA estimates that tankless water heaters save $1,700 over their lifetime. With an average lifespan of up to 20 years, tankless water heaters typically outlast their counterparts by a decade.
If you’re considering whether or not it is worth it to install a tankless water heater in your home, give us a call. We would be happy to discuss the many benefits a new tankless water heater can have for your family.