More storage space and lower energy bills sound incredible, which is why more and more homeowners are making the change to tankless water heaters. But it isn’t enough to convince everyone and for good reason. A tankless water heater comes at a higher price and with additional installation expenses that many can’t afford. However, if you consider the operational costs over a longer period, there is considerable cost saving.
Let’s start at the beginning: a tankless water heater can cost up to three times more than a storage heater (including installation). Then there is also the home itself to think of. Many have electric-only utilities installed which wouldn’t be able to support a tankless water heater, which would mean a necessary upgrade to the electrical system, which would mean paying an electrician to make the required rewiring, aka spending an additional $5,000.
However, tankless models do save space and often last longer and are better for the environment. Normally, they also come with a longer warranty of about 15 years which is more than double that of a regular water heater.
Consider Your Budget and Choice
Whether a tankless model is right for you is up to you, but a few things to look at are:
• whether you only want hot water in one bathroom as opposed to an entire building,
• whether you can supply the necessary voltage an electric model would need or the vents a gas-fired model would need,
• whether you can install them less than 50 feet from a power source.
You’ll also need to consider that a tankless water heater lives longer, for more than 20 years, and will need to be installed by a qualified plumber. It is better to have a professional do it instead of making it a DIY.
Electric Or Gas
If you do choose to settle for tankless, you’ll still have another choice to make: going electric or natural gas. To put it simply: electric models are more efficient with 93% to 99%, but don’t qualify for rebates, and may require you to rewire your house. On the other hand, gas-powered models are about 60% efficient and do qualify for tax rebates in most states. No matter which model you choose, you will see a decline in your electricity bills. And if there any issue with the tankless water heater, it is important not to try repairing it on your own, as it can be a hazard. It is important to call in the appliance repair expert in Toronto as they use all safety precautions before they handle the appliance.