While tankless water heaters have been used in Europe for many years now, they are a fairly new concept to most Americans. The whole house tankless water heater is rapidly gaining popularity with home owners because they are more efficient than the much larger tank variety of water heaters.
The cost of a whole house tankless water heater varies considerably according to size, type of fuel used and brand. They generally range from $500 for an electric tankless water heater that will supply a 1 to 2 bathroom house with hot water, to over $4,000 for a whole house unit to supply a large multiple bathroom home.
Gas heaters are generally a bit more expensive than electric ones, but again it will depend on size and brand more than anything. You can count on spending $500 to $1000 for a small home and from $1000 to $4000 for a larger home.
Cost of a Typical Hot Water Tank
While the cost of hot water heaters with tanks varies by size and brand also, their price range is not as wide as that of the tankless variety. They generally run from about $300 to about $1500 depending on your home’s needs. Yes, generally speaking, the water heaters with the tanks are far less expensive than the tankless types. So, why would anyone want to go with the tankless type of water heater? Read on and find out.
There are actually several advantages to the tankless water heaters over the more popular tanks. First and perhaps foremost, they will save money on your energy bills. That is paramount for most homeowners and although they cost more to purchase and install, they will definitely save the homeowner money in the long run.
That is the problem with many homes in America. They are owned by real estate investors and not by the people living in the home. When the home owner is not the tenant, they are likely to purchase the cheapest hot water unit for the home. They are less likely to be concerned with saving the tenant money on energy costs.
But for those that own their homes, the tankless water heater is much more economical in the long run. They save the home owner money mainly because they do not heat unused water. A regular hot water heater with a tank heats the water in the tank constantly, whether it is being used or not, whereas a tankless water heater only turns on when the hot water is running and immediately turns off one the water stops running.
Another great advantage the tankless variety of water heaters is that they save space. Since they are not required to hold from 12 to 1200 gallons of water for daily usage, they don’t need all that space. The tankless heater heats water as it passes through the unit instead of heating a huge tank of water. They water passes through several electric heating coils in an electric unit and several gas burners in a natural gas unit.
Longevity is another advantage to the tankless variety. Hot water tanks are doomed to a life of constant corrosion from the water in the tank. Tankless hot water heaters commonly last up to five times longer than their tank counterparts. That is yet another reason why the tankless version of the hot water heater will save you money in the long run for those that are willing to spend a little more to start with.
So there you have it. You will notice there is an “advantages” section above, but no “disadvantages” section. That is because there is only one real disadvantage to the tankless water heater and it was mentioned throughout the article. That is the initial cost of the product and installation. Other than that, there are no real disadvantages when compared to a hot water heater with a tank.