The average household spends $400-600 per year on water heating. It’s the second largest energy cost for homeowners after heating and cooling. Of course that doesn’t factor in the frustrations due to running out of hot water or dealing with maintenance from an aging water heating system.
Water heaters have come a long way over the years. They are much more efficient. And new technologies have practically solved the problem of unexpected cold showers. Yet most Americans still have older conventional water heaters that do not take advantage of the recent leaps in innovation. But now many consumers are finding that tankless water heaters are an excellent way to cut utility costs, make their homes more energy efficient and give them peace of mind.
Traditional vs. Tankless
It helps to understand the difference between traditional and tankless water heaters. Traditional, or “storage” water heaters, are designed to heat and store water in a tank, usually 40-50 gallons at a time. When this water is used, the tank is filled again, heated and stored until the next time.
Tankless water heaters, on the other hand, provide hot water only as needed. They heat water directly without the use of a storage tank. This saves money by eliminating the “standby” energy losses associated with storage water heaters that must hold water constantly at a specific temperature. By heating water only when it’s needed, tankless water heaters cut expenses by 30% while providing a continuous supply of hot water. Rinnai, a manufacturer of tankless water heaters (EnergyStar rated), reports you can see energy efficiencies as high as 50% with their tankless water heater.
How tankless water heaters impact your home
With a tankless water heater, you’re able to provide an endless supply of hot water efficiently throughout your home. You also have the capacity to provide hot water to multiple appliances simultaneously with significant energy savings. And the compact installation saves valuable square footage that can be better put to use in your home. Don’t pay for something 24 hours a day you’re not using 24 hours a day!
Looking to switch? Go ahead and ask one of our experts if going tankless is right for your home. Get in touch today!