Is a Tankless Water Heater Worth the Cost?

If there are any objections we hear from customers about tankless water heaters, it’s their cost. Allow us to be upfront with you: Installing a tankless water heater can cost you about $5,000 or more. We know, that’s a big number for one water heater. So, having customers ask us the ever popular “is it really worth that much money?” is entirely valid. But, our answer is always the same: Yes!

Energy Savings With Tankless Water Heaters

A conventional water heater’s efficiency reaches only about 75%. This means that 75% of its energy is used to heat water and 25% is wasted, costing you extra money. In comparison, a tankless water heater can be up to 98% efficient. 98%! That’s only 2% of energy that doesn’t go to heating your water.

So, what does the 23% increase in energy efficiency mean for you? Well, over the 20-year lifespan of the tankless unit, you will save at least $100 per year. Now, add in the money you will save from water not sitting in a storage tank heating up 24 hours a day, and you will have savings up over $2,000.

But, that’s not all.

Tankless Water Heater Equipment Savings

We mentioned tankless water heaters will last you around 20 years. Well, did you know that’s twice as long as a conventional water heater’s life? Those units typically last a good 10 years, 12 if kept in pristine condition. This means, though, that you could actually replace your water heater 2 or more times before your tankless one ever needs replacement.

And, finally, the warranty. The average tank water heater has a manufacturer’s warranty of 6 years, while a tankless system’s warranty runs up to 12 years.

When all these factors are placed in front of you, it’s easy to see that spending a little more up front on a tankless water heater, is well worth it down the line.

For more information on tankless water heating, or to schedule your in-home consultation, call the McHale’s team today!

By McHales