Water heaters last about 10 to 15 years before you should consider a replacement.
With new technology available today that wasn’t the last time you updated your water heater (if this isn’t your first), you may want to consider a tankless water heater. Take a look at some of the pros and cons of both tank storage and tankless.
Tank Water Heaters
For the budget-conscious, tank water heaters may actually prove to be less expensive, though it depends a great deal on how much you pay for hydro and what rates might look like in the future.
Tank storage water heaters still cost less than tankless alternatives when you buy them outright and without looking at energy costs.
If you’re renting, that will mean a smaller monthly bill. If you’re buying, the up-front costs will be smaller. Tank storage water heaters tend to have a lifespan of 10 to 15 years, which isn’t as long as tankless, but will still give you good mileage.
They can also be easier to install. The size of your tank storage water heater should depend on the size of your household. For 1-2 people, a 26-36 gallon tank should be enough, but if you’ve got kids, you’re going to want to look in the 46 gallons and up range.
When it comes to the drawbacks of tank storage, one of the major concerns is standby loss. When you empty out the water tank, it refills and the water needs to be heated. But if you’re not using it, the heat simply dissipates.
You’re paying to heat water you aren’t using. There’s also the wait for more hot water when you empty the tank and you do need it. Remember the last time the hot water ran out in the middle of your morning shower?
Tankless Water Heaters
Tankless water heaters are considerably smaller than tank storage. They can be installed just about anywhere, but that’s just a perk.
The two main benefits to a tankless water heater are energy efficiency and an endless supply of hot water on demand.
Tankless water heaters heat water instantly, as it passes through your system to the faucet or the showerhead. You save energy by not having to pay for “standby loss,” heating water you won’t be using.
Never running out of hot water is worth the extra costs, especially if you live in a busy household and it’s always a race to get to the showers first.
Energy costs continue to rise and renting a tankless water heater is a great way to reduce the costs of more expensive energy.
While the up-front costs are higher, you can save money long-term on your energy bill. It’s a good idea to do your research into the latest options in tankless water heaters to determine which make, model and size is the right fit for your home.
Now that your old water heater has come to the end of its useful life, it’s time to learn about water heater rental options and compare tanks to tankless water heaters. Which one is right for you depends on your home, your lifestyle, and the size of your household. You can save on the cost of the water heater by going with traditional tank storage or enjoy endless hot water and lower energy bills by going tankless.
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