Standard Water Heater vs. Tankless

August 26, 2019

What are the Benefits of a Tankless Water Heater? 

There are many benefits to choosing a tankless water heater over a tank water heater. Just a few are noted below:

  • A tankless water heater gives you an endless supply of hot water, as and when you need it.

  • A tankless water heater will cost more for initial purchase and installation, but will save you money on energy bills.

  • A tankless water heater vs tank will last around double the amount of time – a tankless hot water heater will last around 20 years, compared to the 8-12 year lifespan of a tank water heater.

  • A tankless water heater wastes less energy and is therefore a better choice in terms of environmental concerns and energy efficiency.

How Much Does a Tankless Water Heater Cost? 

A tankless water heater vs tank will cost considerably more in terms of initial investment and installation. 

  • A new standard tank water heater will cost you around $650-850 for purchase and installation.

  • A tankless water heater will cost around $1000 if you choose an electric tankless water heater.

  • A gas powered water heater would cost more, around $3000.

There is therefore a big difference in price between each type of water heater. An electric tankless water heater does not cost a great deal more than a tank water heater. A gas powered water heater is a bigger commitment in terms of price. However, it is important to remember that a tankless water heater will likely last double the amount of time of a tank water heater, so the discrepancy is not as great if you factor in paying for a standard, tank water heater twice in the same amount of time. 

It is also important to consider the savings associated with choosing a tankless water heater, in terms of reduced energy bills. On average, a family might save around $100 annually on energy with a tankless water heater. Savings on energy bills will be larger the more water your family tends to use. 

Will a Tankless Water Heater Give Me the Same Amount of Hot Water?

A tankless water heater will technically provide an endless supply of hot water, as opposed to the 4-6 gallons a tank water heater can provide at once. 
A tankless water heater works by heating the water as it moves through the tankless water heater, therefore, no matter how much hot water you need, you will never run out. The water passing through the tankless hot water heater is heated and ready to use instantly – for showering, dish washing, laundry, or any of the other countless uses for water around the home. 
 
A standard water heater with a tank works by storing water (usually an average of 4-6 gallons) in its tank, heating it, and keeping it hot until it is needed. 4-6 gallons of water is a considerable amount, and as it is used the hot water moves to the top of the tank ready for next use. However, it is possible to run out of hot water if a lot is used at once. This is a particular concern for large families with similar showering routines, and anyone that wants the ability to do multiple chores using water at once. 
 
Consider how important the convenience of hot water on demand is to you and your family as part of your decision making process. 
 
HomeServe is committed to providing exceptional service to those in the Long Island region, including maintenance, repair and replacement services for heating, cooling and water heaters. For advice tailored to your home and your needs, contact Homeserve today. 

 


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