Homeowners may have to spend a lot of money on a water heater that they will use for more than ten years. So, when it's time to set up your new home, it's important to consider the price, how well it works, and how long it will last. We compared storage water heaters and Rinnai tankless water heaters to help homeowners and contractors decide which type of water heater is best for them. To help you make an informed decision, we'll compare the advantages and disadvantages of tankless versus conventional water heaters.
What Is a Tankless Water Heater?
Tankless water heaters, also known as "on-demand" heaters, use high-powered burners to quickly heat water and send it straight to your faucets or shower without storing it in a tank. Most of the time, gas or electricity is used to power tankless water heaters. In tests done by Consumer Reports, these types of water heaters were found to use about 22 percent less energy than gas-fired storage-tank models.
Tankless Water Heaters: Pros and Cons
There is no such thing as a perfect product, and tankless water heaters are no different. Like all products, they have their pros and cons. Make sure you choose the best one from a reputable HVAC company.
Benefits of a tankless water heater:
Saves money over time
Energy.gov says that demand (or tankless) water heaters can be 24% more energy than traditional storage tank water heaters for homes that use 41 or more gallons of hot water daily. If a tankless water heater is powered by gas, it will save its owner more than $100 a year the longer it is used. The US Department of Energy says that electric tankless water heaters save homeowners about $44 per year.
More durable than storage tank water heaters
Tankless water heaters last 20 to 30 years, double as long as a storage tank water heater is expected to last. Be aware that both types of water heaters may last less long in places with "hard water."
It doesn't take up as much space
On-demand water heaters are small and can be put in places without much space. If you have no more room inside your house, you can even put them on the outside walls.
You'll have access to hot water
Tankless water heaters give you two to three gallons of hot water per minute, so you won't have to wait even 15 to 25 seconds for your water to get hot.
Tankless water heaters have the following cons:
Water heaters with storage tanks cost more to buy
If you want to change a water heater with a storage tank with a tankless water heater, installing HVAC services can be expensive.
The pros and cons of water heaters with tanks
Pros of a (tank) water heater:
- Storage tank water heaters have a much lower cost to get started.
- Tank water heaters are easier to use than tankless ones, which makes maintenance and repairs cheaper.
- When these water heaters stop working right, they are easy and cheap to fix because they are so simple. Tankless water heaters are harder to improve and, of course, cost more to replace.
Drawbacks
- A little more money is spent on utilities.
- If your home doesn't have a lot of space, it will be hard to find a place for a storage tank water heater. Also, you can't put them outside like you can with a tankless water heater.
Summary
If you can afford the higher upfront cost of a tankless water heater, you will save more money in the long run. But if you have a small fixed income, you might be better off with a storage tank water heater. Talk to your HVAC contractors about the two types of water heaters to help you decide what to do.
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