Pros vs. Cons of Tankless Water Heaters
Posted On: October 21, 2019
When it’s time for a new water heater, choosing the right type of system is as essential as it may be overwhelming. From tank to tankless water heaters, there are plenty of available options, and your decision can affect your access to hot water—and what you pay for it—for years to come.
To help you make the best decision for your home and family, here’s a helpful look at the advantages and potential downsides of tankless water heaters.
If you have additional questions or you’re ready for tankless water heater installation, simply contact the trusted plumbers at Genz-Ryan Plumbing, Heating, Air Conditioning.
Benefits of Tankless Water Heaters: 6 Key Advantages
- Endless supply of hot water: Tankless systems heat water on demand. As soon as a hot water tap is turned on, water will pass through the heat exchanger in a tankless water heater, warming up instantly. Alternatively, traditional systems store and heat water in the tank. When the hot water in the tank is out, water from the hot tap will run cold until the system has time to heat up another tank full of water.
- Minimal risk of water damage: Because tankless water heaters don’t store water in tanks, there’s no chance of water leaking from the tank and damaging your home. Given that water heaters are one of the leading causes of floods and water damage in homes, a tankless system can provide some added peace of mind. Some units know if there is a water leak and shut themselves off to prevent any damage.
- Energy efficiency: Only heating water when it’s needed, tankless water heaters use energy when there’s a demand for hot water. When hot water isn’t needed, these systems aren’t drawing energy. This makes tankless water heaters highly energy-efficient, especially when compared to tank models, which continuously use energy to keep a tank of water hot and ready for use. Note: Tankless water heaters are generally 95 to 98% efficient while tank-style units are about 50 to 60% efficient.
- Savings: Given the energy efficiency of tankless water heaters, these systems offer significant savings on monthly energy bills, when compared to tank systems. In fact, tankless water heaters can save you as much as $500 per year in energy bills, according to the latest data from Consumer Reports. Over the life span of a system, that could mean thousands of dollars in savings due to lower energy bills. For example, a standard electric 50-gallon water heater can cost about $6,000 to heat water over 10 years while an on-demand system can cost just $1500 to $2000 over a 10-year period.
- Flexible installation options: Need more storage space? No problem! Tankless water heaters are around 3 feet tall and about 2 feet wide, and they can be mounted on the wall. Traditional systems are much bigger, with a 50-gallon tank water heater being up to 5 or 6 feet tall and nearly 2 feet wide. That means that tankless systems offer much more flexibility in terms of where you can install them in your home. It also means no matter where you do end up installing a new tankless water heater, it will take up far less space.
- Longer warranty coverage: The average warranty for an on-demand water heater is 15 to 25 years. In contrast, standard tank models typically have a 6-year warranty. If you’re worried about something failing after the warranty ends, a tankless system can provide peace of mind, offering warranty coverage for 3 to 5 times longer than the coverage typically available for tank water heaters.
Potential Drawbacks of Tankless Water Heaters
Tankless water heaters clearly offer an array of benefits, making them an ideal choice for many homes in the Minneapolis-St. Paul metro area.
Sometimes, however, homeowners may be better served by going with a traditional tank system. This is usually the case when:
- The upfront investment of a tankless water heater is too much for homeowners to cover.
- The design of the home prevents switching from a tank to a tankless model.
If these potential downsides are holding you back from getting a new tankless water heater, we have good news for you!
Genz-Ryan offers flexible financing options (with approved credit), providing affordable, convenient payment options for practically any budget. Plus, our expert plumbers can help you determine the best location for a new tankless system and the most efficient options for installation.
And if we don’t think a tankless system is right for you, we’ll let you know—and we’ll help you choose the right tank (or hybrid) water heater for you!
Find Out If a Tankless Water Heater Is Right for Your Minneapolis-St. Paul Home: Contact Genz-Ryan
Let’s talk about your water heater needs! The team at Genz-Ryan is ready to give you honest answers and helpful advice about your best options for a new water heater, based on your needs and budget.
Call (612) 223-6158 or contact Genz-Ryan online now to find out more about your options for tankless water heaters—or to schedule water heater replacement or installation service at your Twin Cities home!
Since 1950, Genz-Ryan has been a local, family-owned and -operated plumbing and HVAC company dedicated to providing top-of-the-line systems, exceptional service, and the highest-quality comfort solutions. We look forward to helping you with your water heater and plumbing needs!