Are you on the lookout for energy-efficient upgrades you can make around the house? HVAC equipment gets a lot of attention, but water heating is the second-costliest utility for many homeowners. Upgrading to a tankless water heater could be the key to long-term savings, not to mention endless hot water for comfortable back-to-back showers. Find out just how much you can save by going tankless.
What is a Tankless Water Heater?
Most people are familiar with conventional storage tanks, which keep water hot 24/7 in case you need it. Tankless water heaters work differently. Because they heat water instantly with powerful electric heating elements or gas burners, there’s no need to store a tank full of hot water. This is why tankless units are also called instantaneous or on-demand water heaters.
How Do Tankless Water Heaters Save Money?
Opting for tankless water heating reduces your costs in numerous ways:
- No standby heat loss: By installing a system that only produces hot water when you need it, you eliminate the wasteful standby heat loss associated with tank-style water heaters.
- Efficient operation: High-end tankless water heaters don’t just avoid standby heat loss—they also operate extremely efficiently. This means a shower of equal length and temperature costs less with a tankless water heater than a conventional tank.
- Long lifespan: Storage water heaters experience significant wear and tear 24 hours a day, so they typically only last eight to 12 years. On the other hand, tankless units have a lifespan of 20 to 25 years, saving you money on water heater replacement costs.
- Lower risk of water damage: When conventional water heaters fail catastrophically, the resulting flooding can cause significant property damage. But with tankless water heaters, there’s no risk of a storage tank rusting through and leaking everywhere.
How Much Can I Save?
Consider that the average household spends over $2,000 on utility bills each year, 13 percent of which is for water heating. That’s about $260 to take showers, wash dishes, launder clothes, and perform other hot water tasks.
According to the Department of Energy, tankless water heaters are 24 to 34 percent more efficient than their conventional counterparts, assuming your household uses 41 gallons of hot water or less per day. Even if you use up to 86 gallons, you can still save 8 to 14 percent.
This means you can reduce your water heating bills by up to almost $100 per year. And since tankless models last at least 20 years with proper maintenance, you could save over $2,000 in the long run.
Install a Tankless Water Heater in Orem or Draper, UT
Parley’s PPM Plumbing, Heating, & Cooling installs all types of water heaters, including tankless varieties. This means we can meet your requests, no matter what style you’re looking for. We also repair and maintain water heaters to keep your investment running smoothly for years to come. To speak with a knowledgeable plumber about your water heating needs, please contact us at 801-890-2037.