Save Money on Water Heating Bills

Nowadays, tankless water heaters have become an increasingly popular option for homeowners all around the globe. Compared to the traditional storage of tank water heaters, tankless water heaters provide many benefits. While there are many benefits to installing a tankless water heater, it might still not be the best for your home or situation.

 

So, before you purchase a new water heater, consider the following points below:

 

HOT WATER DEMAND

Tankless water heaters are designed to heat water on demand, instead of storing preheated water for later use. You will wait a little longer for water to heat and travel to the tap, but a tankless water heater can offer you with an endless supply of hot water in comparison to its traditional counterpart. The downside, however, is that you cannot utilize too many hot water-consuming taps or appliances all at the same time – this actually depends on the capacity of your tankless water heater. Some tankless water heaters might not be able to keep up with your home’s demands, so make sure to research a tankless system first before buying it.

 

EQUIPMENT COSTS

Cost is definitely a major factor for most homeowners when purchasing a new water heater. In general, tankless water heaters are more expensive than the traditional tank water heaters. However, do not let the cost hinder you from switching to a tankless system. Although tank models are lower in price, tankless water heaters are more efficient, and they also have a longer lifespan offering long-term low operating costs. You should consider the payback period of purchasing a tank or tankless models before making your decision. You will find that a unit that is more expensive upfront will definitely cost you less in the long run.

 

INSTALLATION INCENTIVES

There are some state and local utility programs that offer incentives to those homeowners who install energy-efficient equipment such as tankless hot water heaters. These incentives help offset your installation costs. You may contact your utility company to ask for such incentives, and if you may qualify when you install a tankless water heater.

 

SIZE

A traditional water heater requires a certain area for installation, and this consumes valuable space within your home. Tankless water heaters, on the other hand, are much smaller and they are typically mounted on the wall. Tankless models are ideal for applications where the installation space is limited. For instance, if you live in a smaller home or condo, then investing in a tankless water heater can definitely make a significant difference in your available space.