Tankless water heaters provide hot water on-demand rather than making use of a storage tank. When the hot water tap is turned on, a heating element warms the water, delivering a constant stream of heated water. Here are some reasons to look into a tankless water heater, as well as a look at cost considerations and other green water heater options.
Advantages of Tankless Water Heaters
Tankless water heaters can be as much as 34% more energy efficient than traditional water heaters. With water heating accounting for as much as 30% of a home’s energy cost, tankless water heaters can dramatically slash an energy bill. Homes that use ENERGY STAR® tankless water heaters save an average of $100 a year. In addition, tankless water heaters can last up to twice as long as conventional water heaters, with a life expectancy of more than 20 years. Replacing parts on the tankless water heater can also extend its life by years.
Other benefits of tankless water heaters include:
- Never running out of hot water
- Smaller size
- Can be installed anywhere
- Warranties are typically longer
Tankless Water Heater Cost
A lower operating cost and longer average lifespan offset the initial investment of a tankless water heater. Gas-powered tankless water heaters will slash home energy costs more than units powered by electricity.
Other Green Water Heater Options
For those trying to stay green, there are other types of water heaters that have green benefits, including:
- Heat Pump Water Heaters (aka Hybrid Water Heaters) – Hybrid water heaters slash up to three times the energy consumption compared to conventional units. Heat pump water heaters are powered by electricity, gas or geothermal energy.
- Solar Water Heaters – Solar water heating options are available in two options – active (using pumps) and passive. Solar panels heat the water, which is then delivered to a storage tank.
Are you considering a tankless water heater? Ask about our financing – available at 0% for 18th months upon credit approval. For water heater replacement, contact Mr. Plumber today to get started!