Water heaters require periodic replacement, just like other household appliances. When it comes time to replace the old water heater, homeowners often wonder whether to buy a traditional tank water heater or a tankless water heater.
While many homes have conventional storage tank water heaters installed, it’s worth investigating alternative options when it comes time to replace the older system. Edwards Royal Comfort shares the benefits of both water heater types so you can best decide.
Why You’d Want to Buy a Tank Water Heater
For many homeowners, buying a tankless hot water heater isn’t even a consideration when it comes time to replace an old tank water heater model. Many homeowners choose to stick with what’s familiar, and that is commonly a storage tank water heater as they have been in use for many decades. Tank storage water heaters offer benefits beyond familiarity.
- More affordable: Traditional water heaters are cheaper to purchase and install than tankless models. A tank water heater costs less to purchase than a tankless alternative, with the unit itself typically costing about $400 to around $1,500 depending on the model you select. Installation costs, including equipment price, average between $1,000 to $2,000. Tankless models can cost $1,000 to $3,000, with total costs, including installation, running between $1,200 to $5,000.
- Easier to install: Converting a home from a tank to tankless water heater often requires additional installation work beyond placing a new unit in the home. A tankless water heater may require the expansion of natural gas or electric service to power the new unit, whereas most tank water heaters can simply replace the old unit of the same type without further alterations to your home. This means the installation process can be completed faster and with less expense.
- Immediate hot water: Tank style water heaters pre-heat water and hold it in a storage tank until it’s ready to be used in the home. This means when the tank is full, you’ll have access to hot water almost immediately once you turn on a hot water tap. Tankless water heaters heat water only as needed, so there can be some delay between turning on the hot water tap and receiving hot water from the faucet or showerhead.
- Simultaneous hot water use: In homes that run multiple hot water applications at the same time, which is common in households with a lot of people, a tank water heater ensures each application has access to hot water as needed as long as there is enough heated water in the tank. Tankless water heater capacity is determined by the unit’s flow rate – when there is a heavy demand for hot water, the unit may not have a high enough flow rate to supply all applications with hot water simultaneously.
Should I Get a Tankless Water Heater?
Those who ask, “should I get a tankless water heater?” often do so because they’ve heard that tankless water heaters are very energy efficient. Tankless water heaters can bring better energy efficiency and more to your household:
- More energy efficient: Depending on household size, tankless water heaters can be more energy efficient than tank models. In homes using under 41 gallons of hot water daily, tankless units can be 24 to 34 percent more energy efficient. This energy savings can save the household hundreds of dollars in utility expenses each year.
- Longer equipment life: Tankless water heaters offer longer service life than tank models – they last as much as two times as long! The average service life of a tankless water heater is 20 years or more, while tank models last around 10 to 12 years on average.
- Never run out of hot water: With a tank water heater, once the tank is empty, you’re left waiting awhile for more hot water. Since tankless water heaters heat water as needed, you never have to wait for the tank to refill before having the hot water you need.
- Takes up less space: Tankless water heaters are smaller units, requiring less space for installation. They can also be attached to a wall instead of sitting on the floor, freeing up valuable space in the home for other uses. Tankless heaters are a great option in smaller homes with limited space.
Water Heater Installation in Central Indiana
If you’re wondering whether to switch to a tankless hot water heater, contact us now and talk to the plumbing experts at Edwards Royal Comfort! We’re here to help you learn about the available equipment options so you can make an informed purchase decision. Whether you choose to install a new tank or tankless water heater model, our licensed plumbers will perform comprehensive installation so your new plumbing appliance performs as expected for years to come.