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What is a Tankless Water Heater?<\/h4>\n
Tankless water heaters heat only the water you need, when you need it, eliminating the need for a storage tank. They are smaller and more energy efficient than traditional storage tank water heaters but more expensive. And there are limits to how much hot water can be produced per minute.<\/p>\n
Tankless water heaters can be powered by natural gas or electricity. When the hot water is turned on, cold water passes through the unit and is heated instantly. The rate of hot water produced ranges from about 2 to 5 gallons per minute, with gas-powered models producing hot water at a higher rate than most electric models.<\/p>\n
In large households, sometimes 5 gallons per minute is not enough. Five gallons per minute also falls short if you\u2019re running the washing machine and dishwasher at once, or if you\u2019re showering while the dishwasher is running. This problem can be solved by installing two tankless water heaters in the home, or you can purchase separate, smaller tankless water heaters for appliances that use a lot of hot water.<\/p>\n
How Much Does a Tankless Water Heater Cost?<\/h4>\n
Tankless water heaters are more expensive than their traditional counterparts. The average residential model usually costs anywhere from $800 to $1,500<\/strong>. Installation is also more expensive because it is complex. Budget about about $1,000 to $1,500<\/strong> for that work, which brings the total cost to about $1,800 to $3,000.<\/strong><\/p>\n For the average family, the energy savings from switching to tankless amount to about $70 to $120 per year<\/strong>. Let\u2019s say you spend $2,000<\/strong> to purchase and install a tankless water heater. If your annual savings are $100<\/strong>, it would take 20 years – the approximate lifespan of a tankless water heater – to recoup the cost in energy savings.<\/p>\n Conventional water heaters have large tanks that heat and store water until you turn on the hot tap. They hold anywhere from 20 to 80 gallons, but a capacity of 40 to 50 gallons is enough for the average home.<\/p>\n With conventional water heaters, the water in the tank is constantly heated – whether you\u2019re using it or not. This translates to what\u2019s known as standby heat loss, which makes storage tank water heaters less efficient than tankless varieties.<\/p>\n Storage tank heaters can be powered with natural gas, electricity, propane or fuel oil. A layer of insulation between the inner tank and outer shell helps keep the water at your desired temperature. The U.S. Department of Energy recommends looking for a storage water heater with a thermal resistance (R-value) of R-12 to R-25.<\/p>\n Most conventional water heaters cost $300 to $600<\/strong> – less than half the cost of tankless varieties. Installation is also cheaper, usually about $300 to $500, bringing the total cost in the range of $600 to $1,100.<\/strong> However, high-efficiency tank water heaters can be pricey, running up to $1,500 uninstalled. The energy savings with these models mirrors that of tankless water heaters.<\/p>\nTankless Water Heaters Pros<\/h4>\n
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<\/div>\nTankless Water Heaters Cons<\/h4>\n
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What Is a Storage Tank Water Heater?<\/h4>\n
How Much Does a Storage Tank Water Heater Cost?<\/h4>\n
Storage Tank Water Heaters Pros<\/h4>\n