Homeowners have increasingly adopted tankless water heaters as a popular equipment for water hating. Compared to the tank style water heaters, the tankless variety has many benefits it offers. Inasmuch as some of the benefits may not be well suited for your home, many are. If you are considering investing in a new water heater, the following tips can go a long way in helping you make the right decision.
Hot Water Demand
Instead of storing pre-heated water, tankless water heaters, heat water on demand. You will have to wait for some time for the water to heat and travel all the way to the tap. That said, a tankless model can reliably provide you with an endless supply of hot water. The only downside to it is that you can’t use too many hot water consuming taps all at once. Therefore, your hot water demand is a major factor in deciding on the capacity of the water heater.
Tankless water heaters are costlier when compared to storage water heaters. However, you should not base your decision on the cost or price tag alone, but rather consider the efficiency and the lifespan of these systems. As a matter of fact, the operating costs of tankless water heaters is much lower, and this contributes to its payback period.
In a bid to save on energy consumption, lots of local and state agencies have come up with utility programs that offer incentives for installing energy efficient equipment. These incentives help in offsetting the installation costs and other upfront costs. Contacting the state agency or your utility company and enquiring on these incentives is a visible idea because you never know you may qualify for one or two rebates when installing a tankless water heater.
Tankless water heaters do not take as much space because they are smaller and can be mounted to the wall. This is in sharp contrast to a tank water heater which takes up a sizeable space within your home. If you live in a condo or a much smaller home, it pays to invest in a tankless water heater.
How to Save on Water Heating Bills
Even with an efficient tankless water heating system, you need to come up with strategies to help you save on water heating bills. It is said that an average household spends anything between $400 to $600 on a yearly basis just on water heating. This makes it the second largest expense in your home. To help you minimize on your energy bill, the following should be done:
- Lowering the thermostat settings on your water heater
- Insulating the hot water system
- Fixing hot water leaks
- Changing your hot water habits, among others
If you have issues with your tankless water heater, you should get in touch with a local insured and trusted HVAC contractor.