Will A Tankless Water Heater Save Me Money ?

Yes, but a tankless water heater does more than save you money.

Savings: Space

Since tankless water heaters do not have tanks, they take up less space. You don’t need to have a utility room or area in the garage for your water heater. Your tankless water heater can be stored in a closet or under the sink. Extra space is valuable these days, especially if you’re living in a smaller home or condo.

Savings: Energy

Traditional water heaters hold around 30-50 gallons of water and keep it heated until you’re ready to use it. Depending on the size of your family and the amount of water your family uses, this could be costly. (Did you know that water heater energy usage is the second-highest source of energy use in the average home?) Tankless water heaters don’t hold water, so they heat the water as it comes in—no constant energy to keep 15 milk jugs’ worth of water hot.

Savings: Time

Tankless water heaters save you time in the morning because the water is heated as it comes through until you are finished. While a traditional tank does have hot water on demand, that’s only until the tank runs out. Then you have to wait for the tank to refill and warm up the water. Tankless heaters don’t have that lag time because there’s unending water flow from the tank to the tap.

Savings: Money

Most new homes have a traditional water heater already installed when you move in. If you’re looking to replace the traditional tank, however, there is some work required. While installing a tankless heater might present a higher price tag than expected, the overall financial gains will overcome that deficit. It will raise the initial investment, but it’s an investment worth looking into for your home and your family. When comparing the overall savings of space, energy, time, and money – the savings really can add up.