Water Heaters—Tank or Tankless?
How to Choose?
Estimates are that 30% of your home’s energy costs go to heating your hot water.
Is that surprising? It probably is, because we have found that many homeowners are unaware and will try to nurse along an old, inefficient water heater until it dies. Often it’s a disastrous death—leaking all over your basement or cellar. You can learn some signs of a failing water heater here. When considering a new hot water system you may want to research the new tankless systems.
If space is limited or if you would like some extra room to remodel your basement this may be your best option. Many of these systems are no larger than a large electric panel and hang easily on a wall. They run on electricity or gas (propane or natural). The upfront costs will be more with the tankless systems running $800-$1500 per unit but the energy savings of 24% to 34% can give you a healthy return on your investment. We have more about the distinctions between tank and tankless water heaters on our website.
And we are still offering 0% financing on equipment, so bear that in mind when considering your hot water options.