Homeowners are often faced with a tough decision when their water heater leaves them out in the cold. Should they go traditional or upgrade to a tankless water heater system? This decision should be viewed as an important one because most estimates claim that your home’s water heater accounts for roughly 30 percent of its energy consumption. You could experience significant energy savings by installing a more efficient system. The looming question, should you go tankless, depends on several factors that are outlined below.
Traditional Versus Tankless
Traditional water heaters heat and store the conditioned water in a tank. By design, the water temperature is maintained 24 hours a day regardless of whether or not t is being used. A tankless water heater system heats water on demand, and only when called for. On-demand water heating means on demand energy use and less energy use equates to smaller utility bills. Another advantage a tankless water heater holds over a tanked system is their compact size.
Important Installation Considerations
When you are faced with no hot water, time is of the essence. If you are considering switching from a tanked water heater to a tankless system, the installation will be more involved. The fastest solution is to replace their traditional system with a new one of the same size. Not only will hot water be restored quicker, but it will be restored at a lesser cost. This is because of the necessary plumbing, gas line and electrical upgrades that are commonly required during a tankless installation.
Understand the Savings
Breaking down the installation costs and the expected annual savings can help you determine the best route to take when replacing a water heater. Typically, a tankless system costs anywhere from $800 to $1200 “plus installation” while a tanked water heater falls between $400 and $800 plus installation. According to the U.S. Department of Energy, a point of use water heater will produce hot water more efficiently — 24 to 34 percent — than a traditional system that incorporates a storage tank. The estimates can vary depending on fuel type and the amount of hot water used within the household.
Cost Saving Advice
If converting to a tankless water heater is just not economically feasible, consider these valuable tips to make your tank-style water heater more energy efficient.
- Replace your old water heater with a newer model. Today’s tank-styled water heaters are much more efficient than those of yesteryear.
- Insulating your tank-style water heater with a water heater blanket will significantly increase its efficiency.
- Install a water heater timer, a device you preset that only activates the appliance during the times your household uses hot water.
Why maintain hot water 24 hours a day when probably only need it for a few hours?
For answers to your questions, contact The Pink Plumber today.
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