Thinking about going ‘tankless’ and wondering what the benefits might be? Tankless water heaters (also known as “demand-type” or “on-demand” water heaters) are rising in popularity for energy-conscious home and business owners – and for good reason!
Not only are they smaller than regular water-heaters, their main benefit is an unlimited supply of hot water (who doesn’t want to take a nice long HOT shower?).
The Pros:
- Energy efficient
- Compact size
- Endless supply of hot water
- Longevity
- Less chances of flooding
- Rebate/tax credit on your purchase
- Increase your home value
Energy Efficient: Tankless water heaters use much less energy over the course of a year. On average, you may be able to cut your water heating energy costs by 10-15%. This can end up adding to a savings of $100 or more a year!
Compact Size: Tankless units are mounted to the wall and take up far less space than the over-sized systems we are used to.
Unlimited Hot Water: One of the main selling points of the tankless system is its endless supply of hot water. Never running out of hot water, especially with a large family or lots of house guests, can be a life-saver!
Longevity: Tankless water heaters have a longer life-span, usually lasting for 20+ years instead of 10 years of a standard water heater.
Flooding: Flooding from traditional water heaters can be a major cause of home and/or business destruction. Tankless water heaters don’t store a large amount of water, therefore flooding issues aren’t a problem. This is especially crucial for multi-family communities, where flooding can cause severe damage to multiple homes and belongings.
Tax Rebate: According to Turbo-Tax, you can possibly receive up to a $300 tax credit on your purchase of a tankless water heater.
Home Value: Tankless systems appeal to new home buyers for all of the above reasons, therefore your home’s value can increase if it contains a tankless water heater.
The Cons:
- Upfront cost
- Flow-rate limit
- Venting requirements
Upfront Cost: The average cost of a tankless water heater plus installation can be around $3000. This price can fluctuate depending on what model you choose, and whether your home/business needs retrofitting for the new unit.
Flow-Rate Limit: Sometimes even the largest system cannot supply enough hot water for simultaneous, multiple uses in large households. For example; taking a long, hot shower and running the dishwasher at the same time can stretch a tankless system to its limit.
Venting Requirements: Tankless units have high-powered burners which require a dedicated, sealed vent system that must be installed professionally.
To summarize; adding a tankless water heater to your home or business is, in general, a great choice. From energy savings to endless supplies of hot-water, you can’t really go wrong when going ‘tankless’! If you are interested in having P&R quote or install your new Tankless Water Heating system – head over to our REQUEST A QUOTE page today!