Four Cost-Saving Reasons To Install A Tankless Water Heater

Although a tankless water heater may cost a bit more initially compared to a traditional tank model, it can save you money month after month once it is installed. If you need a new water heater, the following are some reasons to consider tankless. 

1. No Holding Energy

A traditional tank water heater operates by holding 40 gallons of water, or more, at a constant hot temperature. It takes a bit of energy usage to keep this tank on heated standby at all times. A tankless heater heats water on demand, which is when you turn on the faucet. This requires much less energy since there is no need to keep a holding tank heated. Many tankless heaters are also made to be extremely energy efficient, so your energy costs can be even less if you opt for one of these models. 

2. Less Wasted Water

Another issue with tank heaters is that it takes some time for the hot water to make it from the holding tank to the faucet. It's common practice to turn on the hot water tap and allow it to run for awhile so the cold water clears the pipe and the hot water has time to get to the tap. This leads to wasted water, and wasted water can lead to higher water bills. A tankless heater provides hot water nearly instantaneously, usually within a few seconds of turning on the tap, so you don't have to worry about wasted water. 

3. Space Saving

In a small home, every square foot counts. A traditional water heater takes up an entire storage closet or nook, making your space even tighter. A tankless heater can be installed in a cabinet, such as under the sink, or in the back of a closet. Since tankless heaters take up less space in the home, you end up with extra room for storage. This may mean the difference between having to rent a storage unit or not, which can result in major savings over time. 

4. Reduced Damage Risk

With proper maintenance, you will hopefully never have to deal with a water heater leak. If you do, though, it's much preferable for it to be a tankless heater. Tankless heater leaks are usually just a few drips. A tank heater, though, can spill its entire contents and cause costly water damage. If you have concerns about damage, tankless is the way to go. 

For more information about whether a tankless water heater is right for your home, talk to a water heater installation company in your area.