Yes, tankless water heaters can save you money every month on your energy bill and they can last twice as long as a traditional water heater. The money you save is seen almost immediately!
Tankless water heaters have been growing in popularity in recent years as people look for ways to save money on their energy bills. While it’s true that a tankless water heater can be more expensive to install initially, they can often save you money in the long run by providing a continuous supply of hot water and lowering your energy usage. If you’re considering installing a tankless water heater, here are some things to keep in mind.
A Tankless Water Heater Provides Continuous Hot Water
If you’ve ever run out of hot water when someone flushes a toilet or turns on the dishwasher, you know how frustrating it can be to wait for your hot water supply to come back. Depending on how many other people are using appliances at that time, it could take anywhere from a few seconds to several minutes before you get another chance to shower or wash dishes.
A tankless water heater is different in that it heats up the cold water running into your home and sends only that through your pipes instead of keeping a large body of water stored in a tank somewhere in your house. So if everyone else goes ahead and showers while waiting for their turn with you can run out of hot water. But
Not only are there less rules with a tankless water heater but they are actually more energy efficient than tanks as well! Tankless water heaters don’t need any electricity to keep the stored body of hot water warm, because it’s only on when needed. So this saves you money by not heating up an entire storage tank of unused warm water.
Because of their form and function, tankless water heaters save more than storage heaters. The three areas where you’ll notice an increase in efficiency are:
Space: Instead of a storage tank that is 5 or 6 feet tall, tankless water heaters use wall-mounted units to take up far less space. A tankless water heater may save you a lot of room by replacing your current storage tank. Small units may even fit under a sink.
Energy: Tankless water heaters, unlike storage tank systems, only operate when the hot water knob is turned on. The cost of maintaining heated water in a large tank is eliminated.
Emissions: By using an electric tankless water heater, you will reduce the greenhouse gases produced by your home. As a result, tankless water heaters are a more environmentally friendly option.
Real Cost Savings
The advantages of a tankless water heater are obvious. But, how can a tankless water heater save you money? According to the US Department of Energy, a tankless heater may improve your efficiency by 8 to 34 percent. With an ENERGY STAR model, this adds up to $100 in savings each year.
Tankless heaters have the potential to save a lot of money over the life of a heater, but they are also more expensive than standard storage tank heaters. Tankless heaters, on the other hand, can last 10 years longer than their predecessors and save you $2,000 in energy costs during that time frame.
Return on Investment
Tankless water heaters may appear to be a lot more expensive at first, but they are well worth the money. Tankless water heaters have an average lifespan of 15-20 years. This is double the average hot water tank lifetime of 6-8 years.
Overall, tankless water heaters save you money in the long run. Their condensing mechanism is built with efficiency and longevity in mind. This implies that this will be a long-term investment for many years to come.
Tankless water heaters have become more popular in recent years as people look for ways to save money on their energy bills. While the initial cost of a tankless heater may be higher than a traditional model, the long-term savings can be significant. If you’re considering upgrading to a tankless system, contact us today for a free consultation. We’ll help you determine if a tankless water heater is the right choice for your home and provide you with an estimate for installation.