Tank v. Tankless Water Heaters – Pros and Cons
Compare Advantages and Disadvantages of Tankless Water Heaters
There are many advantages to going tankless, but homeowners should carefully weigh the pros and cons to determine if a tankless water heater is the best choice.
Whichever you choose, it is a good idea for New Jersey homeowners to replace or convert their water heater sooner rather than later!
New, more stringent water heater regulations go into effect this April 16th. In the end, these regulations are good for consumers because they will save them money every year on utility bills. Still, the upfront costs will be more expensive.
After April 16th, replacing or converting your water heater will become for expensive due to new requirements and more complex instllations. If you get your water heater converted or replaced before this date, you will still meet all of the requirements but won't have to shell out for the new water heaters and will benefit from energy-efficient products that are on the market now.
For more information:
Tankless Water Heater:
When you turn on your hot water, cold water passes through the small unit, turning on the electric or gas component which heats up the water before passing through your faucet. Traditional storage tank water heaters always have a pilot flame on, making this a clear advantage: you save money and energy and have continuous hot water available.
Tankless Water Heater Advantages:
- Savings – by only heating water when you need it, you save money and energy, about $70-$80 a year.
- Neverending Hot Water – you don't have to worry about being the last one to take a shower anymore.
- Longer Lifespan – compare tankless's 20+ years to tank's 10-15 years.
- Easy & Precise Thermostat Control
- No More Water Tank Leaks – since tankless water heaters don't store water, you eliminate the risk of damaging leaks
- Space Saver – tankless water heaters take up a lot less space.
Tankless Water Heater Disadvantages:
- Higher Upfront Costs – you can have one small unit that won't be enough for sinks and bathtubs to be running at the same time or have a larger unit installed which can get expensive.
- Complicated Installation
- Limited Output – although tankless water heaterrs provide limitless hot water, it only supply a couple gallons at a time, making it difficult to run the dishwasher and shower at the same time unless you opt for a larger, more expensive unit.
To calculate your lifetime energy cost savings use this handy calculator from energy.gov.
Side-by-Side Comparison of Storage v Tankless Water Heaters (courtesy of energy.gov)
Many others have compared tha advatages and disadvantages of tankless hot water heaters:
Acording to energy.gov, water heating accounts for 14-22% of your utility bills. Although the upfront costs of tankless water heaters are more expensive, you should be able to offset these costs from energy savings over just a couple of years. Still, sometimes the neverending hot water a tankless system provides leads to longer showers and increased use of hot water, so be careful.
To schedule water heater conversion or replacement, or for further advice, contact the professionals at Gold Medal Service.
Just call your friendly Gold Medal customer service representative or schedule an appointment online and we'll be there with our same day service guarantee to fix your hot water heater or install a new more energy-efficient tankless water heater.
Give us a call today at 1-800-553-6060 (live support available 24/7)