As a standard water heater reaches the end of its useful life, it has already lost substantial efficiency and can no longer meet demand. Several individuals may advise you to replace your water heater with a similar type that meets your needs at this time. Yet, now is the time to think about switching to a tankless water heater.

Tankless water heaters are a new line of water heaters that bring significant benefits and cost savings to users. If you haven’t seen or heard about one, today is the day that you learn about them. 

In this article, you will understand the pros and cons of tankless water heaters and which is better for you, whether a tankless or tank water heater. But first, let’s start by understanding what a tankless water heater is.

What is a Tankless Water Heater?

Tankless water heaters, as the name implies, do not have large tanks. Because these heaters supply hot water on demand, they are more energy efficient than typical storage tank water heaters.

Cold water flows through the tankless heating unit, which is heated with gas or electricity, to provide a continuous supply of hot water until the faucet is turned off.

As these are somewhat new kinds of water heaters, many people don’t know their pros and cons completely. Hence, in this section, we will have a look at the pros and cons of these water heaters. 

Tankless Water Heater Pros & Cons

Pros

• Highly Efficient

Tankless water heaters are often more energy efficient than storage tank water heaters. It has been shown that these water heaters can be up to 50% more energy efficient than regular ones. Furthermore, because tankless water heaters do not have a tank, they are not sensitive to energy loss caused by standing water in the tank.

• Long-term Savings

There are various types of tankless water heaters, and depending on the type of tankless water system you install and the extent to which you need to prepare your home’s wiring, water lines, and gas lines, tankless and on-demand hot water systems can help you save money on your water heating costs over the system’s lifetime.

Tankless water heaters have a longer lifespan than traditional water storage heaters, and most property owners should expect a payback time of 10 to 25 years. Electric tankless models, on average, have shorter payback times than gas tankless units.

• Environment friendly

Tankless water heaters are incredibly efficient, requiring fewer resources to heat and providing the same volume of water as a traditional water heater. Reduced fuel use reduces your environmental impact, making tankless hot water heaters a more ecologically responsible water heating alternative.

• Space Saving

Just as the name showcases, a tankless water heater does not require a tank to store water. Because of this characteristic, such water heaters are relatively compact, making them an excellent choice if you need to open up space in your house or if you have limited capacity.

• Continuous Hot Water Supply

Water heaters with tanks have a limited supply and can only give hot water up to the capacity of the tank. Since tankless water heaters heat cold water on demand, you can enjoy hot water eternally as long as the faucet is turned on. A tankless water heater might allow you to take as long as you like in a hot shower without ever getting chilly.

Cons

• Slow Flow

The poor flow rate will be a limitation if you utilize the same tankless water heater throughout your home to deliver hot water in bathrooms, kitchens, and other spaces. In such cases, tankless water heaters are unable to offer consistently hot water, and you will be left with water that is only slightly warm. Also, if you want a larger flow rate, you’ll need to install a more costly water heater.

• Higher Initial Cost

To effectively install a tankless water heater, you may need to replace your home’s wiring, gas pipes, and water lines. A tankless water heater might cost three times more than a tank water heater at first. As a result, a tankless water heater demands a bigger initial investment than storage tank heaters.

• Extensive Setup Process

Tankless water heaters require extensive preparation before they can give you hot water and cost savings. To make the tankless water heater accessible throughout the house, you’ll need to rebuild the wiring, gas pipes, and even water lines. In such cases, in addition to the professionals who will install the tankless water heater, you may need to engage plumbers and electricians. All of these will drastically increase your prices and require more time.

• Prone To Power Outages

Almost all tankless water heaters require electricity to produce hot water. With this dependency, tankless water heaters are sensitive to power outages. If you are stranded with no electricity, you may not enjoy hot water at your home. 

Tankless vs. Tank Water Heaters

After knowing about the pros and cons of tankless water heaters, you might be tempted to compare them with your current tank water heaters, so in this section, we will compare tankless water heaters with tank water heaters. 

Tankless Water Heaters	Tank Water Heaters
As tankless water heaters are relatively new, they are expensive to install. Moreover, repairing them needs significant expertise. Hence the repair and maintenance costs are also high.	Tank water heaters have been in the market for many years, and they are widely available; hence they are inexpensive to install. Moreover, any plumber who has worked with some heaters can quickly work on these heaters, due to which the repair and maintenance costs are negligible.
Tankless water heaters do not possess a tank with them, and due to this, such water heaters can be a great choice if you lack space.	Tank water heaters come with ample storage tanks for hot water. Due to this, they require dedicated space for the tanks too.
Tankless water heaters can quickly heat up water and provide you with hot water for your needs in no time. Due to this, they are also called on-demand water heaters.	Tank water heaters need some time to heat up and provide hot water.
Tankless water heaters can last longer than tank water heaters. But these water heaters run out of hot water much more quickly.	Tank water heaters do not last longer, and they need to be changed frequently under heavy usage. On the other side, these water heaters can store hot water for some time. Hence you can enjoy hot water for a longer time than tankless water heaters.

Which Water Heater is Best for You

By now, you might be impressed by tankless water heaters, but before you think of buying one for your home, you should do an evaluation of your needs to find which water heater is best for you. In the previous sections, we had a look at the pros and cons of tankless water heaters and also did a comparison between these water heaters. Below are two points that can help you choose whether tankless water heaters are suitable for you or tank heaters. 

Hot Water Usage

One of the most basic factors in deciding whether you need a tankless water heater or a tank water heater is the water usage in your house. If the hot water usage in your house is very high, and you are using it at multiple sources from a single water heater, you may choose a tank water heater. Such water heaters can provide water to multiple sources from a single point, and they can also store and heat more water in one go. 

On the other hand, if the water usage at your home is minimal, or you have different water heaters for each need, tankless water heaters can be a good choice. Such water heaters can provide you with hot water instantly, given that there are lesser needs, and each heater is used for a specific purpose. 

Expense Capacity

You don’t need to spend large sums of money to make hot water available at your home. If you are using a tank water heater that fulfills your demands, and you cannot spend lavishly on replacing that, you are better off repairing or buying a new tank water heater in case the current one stops working. 

Tankless water heaters are costly, and they need significant setup, too, which adds to the cost. If you aren’t bothered with the upfront expenses, and you want to save costs in the long run, you should definitely select a tankless water heater. 
By now, you have a complete idea about the pros and cons that come with tankless water heaters. Moreover, you also understand the difference between water heaters and tankless water heaters. Lastly, we have also seen the factors that can help in deciding whether you need a tankless water heater or a tank-based water heater. So, use all these points to buy a new water heater for your home and enjoy hot showers uninterruptedly. Call MyGuy, a plumbing company in Toms River, NJ or the surrounding areas.