Will a Tankless Water Heater Save Me Money?
According to the U.S. Department of Energy, American homes spend an average of $2,060 each year on energy bills. Approximately $268, or 13% of the annual energy bill, goes to heating water. This doesn’t include the cost of the water itself, so it isn’t surprising that many homeowners in Appleton, WI, are looking for ways to cut costs. One of the avenues they consider is a tankless water heater.
Can a Tankless Water Heater Result in Cost Savings?
Tankless water heaters are also referred to as instantaneous water heaters, on-demand water heaters or simply demand heaters. This type of heater has seen a spike in demand because the heater heats water just when it is needed.
This instantaneous availability of hot water, rather than having gallons standing by just in case someone needs a supply of hot water, has led many homeowners to believe that having one of these appliances will save them money.
Turek’s Plumbing Services confirms that Appleton WI tankless water heaters usually require less energy to run those water heaters. However, having lower energy bills doesn’t necessarily mean you are saving money since the upfront costs of buying and installing the on-demand water heater also have to be accounted for.
Because tankless water heaters are more complex than water heaters with storage tanks, it costs more to install the on-demand water heater. That added cost, plus the purchase price of the heater, means that it will take longer for the water heater to pay for itself.
These water heaters could deliver savings in your case, and they come with the following added benefits which could outweigh any savings you hoped to gain.
Longer Service Life
As mentioned earlier, on-demand water heaters typically last about twice as long as the heaters with water storage tanks. For instance, while a traditional water heater could last for 8-12 years, a tankless version can work for 20-25 years.
Furthermore, most components of on-demand water heaters can be replaced, so a situation which can result in trashing a traditional water heater merely requires you to buy replacement parts for a tankless water heater.
Limitless Hot Water Supply
In most cases, on-demand water heaters can provide a nearly endless supply of hot water. You therefore no longer have to worry that you will get a jet of cold water in the midst of having a hot shower.
However, St. Paul plumbing company, McQuillan Bros cautions that this endless supply of water is only attainable if you engage an experienced plumber to determine the appropriate flow rate of the water heater needs of your household can be met even if different hot water points of use are active at the same time.
You could also solve the flow rate challenge by installing a smaller on-demand water heater at a point of use that requires a lot of hot water. This will result in even more efficiency as the heat losses incurred while water is transported from the heater to the point of use are avoided.
We live at a time when every square foot of space comes at a premium. It is therefore welcome news to learn that tankless water heaters require very limited space since the heater doesn’t come with a storage tank.
For example, Fox Valley plumbers explain that on average, a traditional water heater (the ones with storage tanks) are approximately two feet in diameter and five feet tall. These huge water heaters aren’t only an eyesore wherever they are installed, but they also take up a lot of space in the kitchen, laundry room, or any other location where they have been installed.
In contrast, tankless water heaters are much smaller and can be tucked away in compact spaces. Additionally, they come in attractive designs which enhance rather than detract from the aesthetics of your home.
Is a Tankless Water Heater Suitable for Me?
As you can see from the discussion above, a lot goes into determining whether an on-demand water heater will deliver savings to a particular home or not. It is therefore advisable for you to contact us at Turek’s Plumbing Services so that a member of our team can visit your home and assess your hot water needs before giving you our considered opinion on whether you may or may not realize monetary savings when you install a tankless water heater. Contact an Appleton WI plumber today for tankless water repair or replacement!