If it’s time to replace your water heater, you may be debating the pros and cons of trading in a clunky tank for a tankless heater. But is tankless water heater worth the investment? Let’s take a look at why it may (or may not be) right for your home.
Pro: Energy Saving
Tankless water heaters save energy. Whether you’re environmentally conscious, a savvy budgeter, or both, a tankless heater may be a good investment. While traditional tank water heaters keep 40 to 50 gallons of water hot at all times, tankless heaters heat on demand. This model from EcoSmart can help you save up to 60% on your water heating costs every year.
Con: Cold Showers?
For small families, tankless water heaters are a great investment. But because these on demand heaters only serve one faucet at a time, large families may find themselves jockeying for shower time. Larger homes require tankless heaters with a greater capacity—but these units are often much more expensive than tank heaters.
Pro: Space Saving
While tank water heaters require a large utility closet, or are stored in the basement, tankless heaters are perfect for smaller homes without a lot of storage. These slim units can fit in standard closets and can be wall mounted.
Con: Installation Costs
While some tankless units are relatively affordable, they also require special venting—which requires professional installation. When you’re deciding which water heater is right for you, be sure to factor in the added installation costs of tankless heaters.
Is it worth it?
Tankless water heaters save money and energy in the long run if you’re willing to make the upfront investment for installation. They’re also serious space savers. If your water usage is low to moderate, these units are probably a good fit for your home.