It's hard choosing between the two major water heating system, tank and tankless. One promises cheap installation, while the other says that its exorbitant plumbing installation costs will be covered by the savings it will get you. But which one is best for you?
Installation prices
Some customers wonder if the installation costs of tankless heating systems are really worth it. In general, a tankless water heater will cost you more upfront compared to a tank water heater.
Tank water heating systems are cheaper to install, running at $916 to $1206 for the machine itself and the installation at most local plumbers. Tankless' installation prices are more controversial. Tankless water heating system providers say that the machine plus installation racks up between $1200 and $1666 on average, however a recent study showed that, when asking 8 different plumbing contractors, the costs are actually between $2000 and $5000.
Considering an initial installation price, you would get back the money from your investment into the tankless system in 27 to 38 years, according to the same study.
Energy savings vs. operating costs & lifespan
The first thing people consider when switching from tank to tankless water heaters is how much energy and money this might save them.
Tankless systems provide the water on-demand, and there will be no heat loss through the walls of a tank through a standby body of water in it. Tankless systems also save you energy by not having to continuously re-heat that standby water, however depending on how much you use them the energy cost for instantly heating water might override the savings.
Tankless water systems have a lifespan of close to 20 years, while tank systems can last up to 10 years. On the other hand, tankless systems are also harder to manage on your own, being more mechanically complex.
Considering the above mentioned installation costs, you'll have to decide for yourself if the initial investment is worth the potential savings.
Space saving vs capacity
Tankless heaters are usually the size of a small computer, while tanks can be as much as 60" and 24" wide, taking up more space. However, this space results in a bigger water output, allowing you to use on average 114-283 litres of water at time, which is good when multiple household members need water simultaneously. Tankless systems usually provide you with just a few gallons.
Tank water heaters are for you if you don't have space issues and need a lot of water at once, or if you're deterred by tankless installation costs. Tankless water heaters are more costly and harder to manage, but they might help you save a lot of money on the long run while also occupying relatively little room.
If you can't decide on your own which of these is best for your house, ask your plumber—they'll be able to give you a better idea of which will best suit your property.
Share9 January 2015
Welcome to my blog! My name is Richard and my big passion in life is looking for old buildings to restore. My love of old buildings started when I was seven years old and I visited my grandparent's house in Alice Springs. It was a large Victorian building which looked magnificent even though it was in a bad state of repair. Once I grew up and made some money, I decided I would like to invest in old buildings to bring them back to life. I hire a range of different contractors to complete the work on my behalf but I take a keen interest and I have learnt a lot of things.