Tank Vs. Tankless Water Heaters: Which System Is Better For Your Home?
Looking to replace your home’s water heater but not sure where to start or what your options are? Our Waldrop team is here to help. There are numerous reasons as to why homeowners choose the system they do but we want to make sure that you are fully versed on the pros and cons of a tankless system versus a tank water heater BEFORE you buy. Read below to find out now and then call our team to experience the difference.
Cost & Installation
Tankless: Tankless water heaters do tend to cost more upfront. They are a bigger investment but they have long-term payoffs, like higher efficiency, which can reduce your utility bills. They will also have to be installed by a professional as with gas systems, they may need additional venting and gas-supply requirements that only your plumber should handle.
Tank: Tank water heaters are more cost-effective when it comes to your initial purchase. They also require a professional when it comes to installation to stay within warranty requirements but do not have as cumbersome of an installation process as a tankless system.
How They Operate
Tankless: A tankless system is just that – TANKLESS! They produce hot water on-demand and do not need to store and heat any water when not in use. Instead, this system heats the water as it is flowing to provide you and your home with instant and endless hot water – ideal for large families fighting for shower time! The ability to heat water when you need eliminates standby energy loss in your home and you will begin to see this reflect on your utility bills as time goes on.
Tank: A tank water heater stores water BEFORE you use it and preheats it. Considering these tanks store water, it can mean that when that water runs out, you may be out of luck. Tanks do not produce endless hot water and you may have to wait for the tank to produce hot water to use if it gets used up by another family member. If you have a large family with heavy hot water usage, a tank water heater may not be a wise investment. The other downside is when you use up the hot water, the tank will automatically start the reheating process. This means you will be paying for this energy usage whether you need it or not.
Tankless: As we have mentioned, tankless systems are more energy-efficient than a traditional tank water heater. This is due to the fact that they produce hot water only when you need it most rather than a tank that is constantly producing water after each use. The Department of Energy reports that a tankless system is 24-34% more efficient than a tank water heater which can translate to roughly $100 in savings per year. Considering the life expectancy of a tankless system, which is around 20-25 years, you could potentially save around $2,000-$2,500 in comparison to a tank water heater.
Tank: By now you know that tank systems are constantly heating hot water, whether you need it or not. Unfortunately, this can show up on your utility bills and in comparison to a tankless system, they will be higher. While the initial upfront cost may be lower, you will be making that cost up in your monthly bills. The other disadvantage of a traditional system is that they have short lifespans meaning you will be paying for a replacement tank sooner than you would have with tankless.
Now that you have learned the difference between a tank and a tankless system, it is now time to decide what system best suits your home. Luckily for you, our Waldrop team is extremely versed in water heaters and contains a wealth of knowledge. Contact us today to schedule a free estimate. Our team would be happy to walk you through the costs, the installation process, and the systems we have available for your home. We can’t wait to help you experience the difference!