Unlike traditional water heaters, tankless water heaters invest less energy to store and heat gallons of heated water waiting to be used. Since they have no use of a large storage tank, they are simply wall mounted and take up way less space in your home. According to Consumer Reports, heating water accounts for up to 30 percent of the average home’s energy budget. So will switching to a tankless water heater save you money? According to their report, probably not. Tankless water heaters, appear to save you a little more money over a years time but it doesn’t save you much due to the larger expense it takes to install a tankless system.
Other issues Consumer Reports found with tankless water heaters:
- Water runs hot and cold – a common complaint among those polled were that the temperature of the water was inconsistent and hard to gauge
- Up-front costs are high – Installation of this system may mean more electrical outlets, upgraded gas pipes and a new ventilation for your system. Therefore, adding more dollars to your upgrade.
- Tankless units might need more care
- Efficient storage models are pricey
What are the benefits of a tankless water heater:
- More space: Imagine something the size of a suitcase on your wall
- Unlimited hot water, no waiting for water to be re-heated
- Less energy used: Up to 98% efficient!
