Tankless Water Heaters are a popular choice for large families with high hot water usage and those who don't mind a long term return on investment. There are many things to take into consideration when you are considering a Tankless.
- Size of Your Home or Business: The size of your home or business is the differencce of not only one or two tankless heaters but also the cost of purchase and install.
- Hot Water Usage: Depending on your hot water usage a conversion may or may not be beneficial
- Cost of Tankless: The cost of a Tankless vs. Tank Water Heater is quite a difference. Example - Traditional Tank $450-$800 Plus Installation Each
- Tankless Heater $800-$1500 Plus Installation Each
- Energy Efficiency: This brings you back again to your hot water usage and if you use enough to benefit from the savings of a more energy efficient unit.
- Up Front Expense: The cost for a Tankless begins with the conversion process. The cost is much more substantial when converting your hot water heater from electric to gas.
- Maintenance: You need to be prepared to have a Professional do a yearly service on your Tankless to ensure that there is no chance for calcium to build up in the unit. NOT servicing this equipment will put it at risk for water flow restrictions, decreased energy efficiency, and even parts damage! Not to mention you need to have maintenance on most units to keep the warranty in place.
The square footage and water usage in your home are two key factors in whether your home will require one or two Tankless units. Most Gas Tankless heaters are availabe with the capacity for most larger homes and there are smaller units offered as well. Electric Tankless are found to be better for those who have a bathroom further away from their hot water system that struggles to keep up and is looking for an increase in a specific area.
It is true that Tankless Heaters are more efficient and if you are purchasing a home with a Tankless system in place you only will need to keep service on your unit and will save immediately.
However, the test on how you can tell if it is a worth while investment to convert is to compare the cost of conversion plus equipment and install vs. the expected savings per year. If you are installing a gas line, ventilating for the unit, and making changes to your electrical system, it can take up to 15-20 years to see your full return on investment. Your installation could cost you an estimated $600-$1,000 plus install or more for a Tankless unless you are converting which could add an additional $1,000-$2,000 or more per unit.
If you have any qusitons on this process, interested in options available, or need your current hot water heater serviced or repaired... give us a call at Water Source Plumbing Service Inc.
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