Endless amounts of heated water sounds like a dream, but this desired amenity doesn’t have to be a fantasy. Tankless water heaters provide hot water at all hours of the day, every day of the year – without the standby loss of your average water heater.
Here are the pros:
Tankless water heaters are the most energy-efficient water heater option for your home. These types of water heaters conserve energy and save money by detecting when the faucet is turned on and then sending a message to the water heater to begin heating. They reduce energy bills up to 50 percent because the heater only generates hot water when it’s needed, according to the U.S. Department of Energy. Tankless heaters also last up to three times longer than regular water heaters. And finally, these heaters allow electric, gas and propane connections.
Here are the cons:
Well, there aren’t many. Tankless water heaters are more efficient, longer lasting and more compact in design. The up-front cost might be the biggest and/or only turn off. Tankless models can cost anywhere from $800 to $1100 versus $400 to $600 for regular storage tanks. The initial cost may seem a bit pricey, however the savings in energy costs and the extended lifetime cover the costs (and then quite a bit more) in the long run.