Is A Tankless Water Heater A Good Fit For Your Home?

When was the last time you bought a new water heater? If you're having trouble answering this question, then chances are you'll need one sooner rather than later. Of course, the passage of time has introduced a new and novel way of bringing hot water to your home.

The following talks about tankless water heaters and how they stack up next to the conventional competition.

Look Ma, No Water Tank!

As its name suggests, a tankless water heater gets rid of the conventional hot water storage tank in favor of several individual units that heat the water based on immediate demand. When you turn on the tap, a heating element quickly heats up the cold water flowing through the unit, providing you with a nearly-instant source of hot water without having to create and maintain a reserve.

Tankless water heaters are typically installed in close proximity of bathroom faucets and appliances requiring hot water to properly function, either for standalone use in place of an existing water heater solution or as a supplementary booster for preexisting systems (such as a solar water heating system). Tankless water heaters are commonly available in gas-fired and electric forms, giving you plenty of flexibility when it comes to installation.

Benefits of Having a Tankless Water Heater

Having a practical and energy-efficient tankless water heater offers plenty of tremendous benefits:

It saves space. A typical water heater tank ranges anywhere from a svelte 20 inches to a portly 42 inches in diameter. Needless to say, most conventional water heaters need plenty of room in order to fit within the confines of your basement or utility room. On the other hand, a tankless water heater takes up only a fraction of that space, plus it can be installed on almost any outdoor or indoor wall.
It'll last longer. While conventional water heaters offer a 10 to 15-year lifespan, a tankless water heater offers 5 to 10 additional years of reliable and dependable service.
You'll face fewer leaks. Without that huge storage tank, it's less likely your water heater system will spring a leak.
It saves energy. Tankless water heaters are up to 34 percent more efficient than their conventional counterparts. You can save even more energy by purchasing and installing a tankless water heater featuring the Energy Star label.
It saves money in the long run. The long-term costs of operating and maintaining a tankless water heater are much lower than a conventional system. Without the need for a storage tank, you can cut out standby heat losses and their attendant energy costs.

Caveats

While tankless water heaters offer plenty of advantages, there are a few caveats you should be aware of prior to purchase and installation:

Most tankless water heaters can't provide hot water for simultaneous uses, such as running the dishwasher and the shower faucet at the same time. Even the largest tankless water heaters could be hard-pressed to provide simultaneous use within a large household.
The initial costs of a tankless water heater may also put off those who are budget-minded when it comes to their appliance upgrades. These additional costs may include specific permits for tankless water heater installation. However, the steep cost of purchase and installation is usually offset long-term via energy savings and lower utility bills.

Taking the above information into consideration can help you decide whether a tankless water heater is truly the best solution for your home's hot water needs. Don't forget that other energy-saving strategies can be paired with the purchase of your new water heater. For instance, you can also reduce your need for air conditioning through the smart use of your home's ceiling fans.

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