Your home’s water heater is probably second to only your air-conditioner in energy consumption. An ill-maintained or old water heater could raise your bill. Alternatively, the problem could be in the kind of water heater you use. If you want to cut your bill, it may be time to replace your water heater. However, before you do, read on and keep the differences between tankless and storage water heaters in mind.
Efficiency
While the two kinds of water heaters are functionally the same (they provide hot water), they come with different water capacities. On the one hand, storage water heaters typically have a capacity of 50 gallons. However, they range from 30 to 60, so you should pick your capacity based on how much water you use on a daily basis.
On the other hand, tankless water heaters, as the name suggests, do not store water. A tankless unit uses a heat exchanger to heat the water as it flows to whichever plumbing outlet has opened. Tankless water heaters tend to be more energy efficient than storage water heaters.
Cost
Given the efficiency of tankless water heaters, their energy costs are lower than storage water heaters. Over time, tankless water heaters are will likely save you money. They typically have a lifespan of 20 years, whereas the typical storage water heater’s lifespan is 10 years.
However, tankless water heaters are more expensive to purchase and install. Whereas a storage water heater may cost you anywhere between $500 to $900, a tankless water heater can cost over $2,000.
Convenience
Storage water heaters need to be cleaned and serviced once every year. They also take up much more space, which can be inconvenient if you live in a smaller house or apartment. However, due to their simpler design, they’re easier and less costly to repair.
Though they require similar amounts of maintenance, tankless water heaters take up much less space than their storage counterparts. You can even install these outside walls, which makes them a great fit for a spatially-challenged home. However, given their complex design, if there is a problem with your tankless heater, it could be expensive. To avoid frequent repairs and maintenance, you should use a water softener and avoid hard water.
Winner?
Tankless water heaters run more efficiently and take up less space than storage water heaters. However, it’ll take a significant amount of time for you to recoup their costs. You can expect a tankless water heater to cover its costs over its lifespan, but warranties normally don’t cover the entire lifespan. If you’re short on cash, but not on space, you should consider a storage water heater. If you have the money, then you should install a tankless water heater.
Whichever decision you make, you should get in touch with Pro Serve Plumbers to repair, install, or replace your water heaters. We’re stationed in Fort Worth, TX, and offer water heater services throughout the area.
