A water heater is an essential part of your home’s plumbing system. When it fails, your household will no longer have a reliable source of hot water. If you’re like many other homeowners, you’re likely deciding between buying a traditional water heater and a tankless unit. There are pros and cons to both styles. Let’s take a closer look at how these two types of water heaters compare.
What Is a Tankless Water Heater?
Most people are familiar with a traditional water heater. In contrast to a conventional water heater, a tankless unit does not store water in a tank. As water passes through the system, it is rapidly heated by powerful burners. Both electrical and gas versions of a tankless water heater are available.
Tank vs. Tankless Water Heater Comparison
Initial Cost
Budget-minded homeowners who want to invest less money will lean more toward a tank water heater. Not only do tankless units typically have a noticeably higher price tag, but installation is also a bit more complex. Because it takes more work to install a tankless water heater, labor costs are naturally more expensive. In some instances, you may save more than $1,500 by opting for a traditional unit.
Operating Costs
Despite having greater upfront costs, tankless water heaters do reward homeowners with lower annual operating costs. You can expect tankless systems to be noticeably more efficient. In fact, the EPA estimates tankless water heaters to use up to 34% less energy. A tankless unit only provides water as it is needed. On the other hand, traditional tank-style systems continually heat and store water. This ultimately equates to more energy being consumed in the long run.
Equipment Lifespan
Traditional water heaters are typically rated to last roughly 10 to 15 years. However, neglecting routine servicing can cause the unit to fail much sooner than expected. A longer lifespan of 20 years gives tankless systems a key advantage.
Maintenance
Both types of water heaters require periodic maintenance. However, a traditional system’s simpler design usually translates to less expensive repairs. On the downside, its tank is prone to developing leaks over time. As you probably already know, water damage to a home can be quite costly to repair.
Size
A traditional heater’s tank causes it to take up a lot more room. This could be a concern for folks who want to maximize their home’s available living space. Because a tankless water heater is so compact, it can be placed in small areas.
Hot Water Usage
It takes a shorter amount of time for tankless systems to heat water. Whether you’re preparing to take a shower or wash dishes in the kitchen, you’ll appreciate the speed of a tankless water heater.
If you have a rather large family that consumes a lot of water daily, a traditional water heater could prove to be your best option. It can heat large volumes of water at once. While a traditional system is slower to heat, there will be a steady supply of hot water once it gets going.