Standard Tank Water Heater vs. Tankless Water Heater

August 26, 2019

The water heater is one of the many appliances in our homes that we rarely think of until we’re without it. When the time comes for a new water heater, it’s worth doing some research, as it’s an investment that will serve you for the next 10-20 years, depending on the type of water heater you choose. Read on for guidance as to whether a tankless water heater vs tank water heater is right for you and your home. 
 

What is a Tankless Water Heater?

A tankless water heater, also known as an on-demand water heater, is a water heater that heats the water as it flows through it. The nature of this design means that hot water is continuously available, and the unit is much smaller than a traditional, standard hot water heater. 

On the other hand, a standard, tank, water heater stores a large amount of water and keeps it hot until it is needed. This equates to a lot of wasted energy, and a standard hot water heater can run out of hot water if a lot is used at once. As it is necessary to store water in a standard water heater, bigger is better in terms of unit size. 

Hot Water On-Demand

Tankless water heaters offer the modern day convenience of hot water as and when you need it, that a standard hot water heater can’t promise. 
  • With a tankless hot water heater you can run your washing machine, do the dishes and take a shower at the same time, all using hot water.
  • A tankless hot water heater heats water in seconds – this means no more time wasted waiting for your water to heat up. 

Energy Efficiency

Many of our clients are passionate about energy efficiency and minimizing the costs to the environment when it comes to their personal choices and appliances around their homes. Choosing a tankless water heater vs tank water heater is one easy decision to make in favor of the environment. 
 
Accoridng to Energy.gov:
  • In terms of tankless water heater vs tank, tankless water heaters offer superior convenience.
  • If your home uses 41 gallons or less of hot water daily, demand water heaters can be 24%–34% more energy efficient than conventional storage tank water heaters. 
  • If your home uses a lot of hot water (around 86 gallons per day), tankless water heater vs tank can be 8%–14% more energy efficient

  • If you install a demand water heater at each hot water outlet, you can achieve even greater energy savings of 27%–50%. 

Is a Tankless Water Heater Economical?

When it comes to considering the cost of a tankless water heater vs standard water heater, it’s necessary to consider both the initial investment and long term return.
  • A tankless water heater will likely cost more in terms of initial purchase and installation.
  • However, a tankless water heater will save you money on energy spent each year - according to Energy.gov, gas-fired, tankless water heaters will save homeowners around $100 annually, depending on quantity of water used. 
  • Your energy savings will be higher the more water you use – a larger family will more quickly recoup on the costs of a tankless water heater. 
  • Also factor in the longer lifespan of a tankless water heater, which won’t need to be replaced again for around 20 years. A standard water heater would need replacing closer to every 10 years. 

Decisions relating to budget and cost are personal to each home owner. If you have the budget for a tankless water heater and value the other benefits that come with it, it may be worth the higher initial investment. 

Will My Water Bill Go Up or Down?

It is more likely you will see a reduction in your energy bill than your water bill after deciding to install a tankless water heater. Standard water heaters store water and keep it hot, effectively wasting energy during this period of storage, while tankless water heaters heat the water as it passes through, and don’t waste as much energy unnecessarily. 
 

Find Out More

Still debating whether a tankless water heater vs tank water heater is right for you? Homeserve of Long Island is a team of professionals specializing in heating, cooling and water heaters. We are here to offer professional advice tailored to you, your home and your needs. Contact Homeserve Long Island today to speak with a professional or request a quote. 


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