Unlike standard units, which continuously heat and reheat the water you use to shower, clean your clothes, and wash dishes, a tankless water heater uses high-powered burners or electric coils to instantly produce hot water. Many people still think of them as a convenient luxury, but did you know that installing a tankless water heater in your home can actually, in the long, run save you money? Here's how.

What is a Tankless Water Heater? 

Also called on-demand water heaters, tankless units rapidly heat water as it makes its way through a heat exchanger and then delivers it directly to your shower and faucets. As a result, there's no need for a conventional storage tank. Usually powered by gas or electricity, these heaters have been found to be over 20% more energy efficient than gas-fired storage tank models.

Is a Tankless Water Heater Just for Convenience? 

Aside from energy savings and instant delivery of hot water wherever and whenever you want it, there are a lot of good reasons to install a tankless water heater than just convenience.

• It eliminates inconsistent water temperatures.
• The lifespan of a tankless model is roughly twice that of standard tanks, which usually only last about 10 years.
• Much smaller than storage models, the wall-mounted unit takes up far less square footage.

One of the biggest advantages to a tankless unit is it eliminates what's known as "standby loss," the process where your standard unit keeps heating the water in the tank as it cools. Another plus? There's no chance of your water heater "exploding" while you're out of town!

Can a Tankless Water Heater Save You Money? 

Absolutely. A tankless model's longer lifespan makes it a more expensive option at the outset, but over time you'll appreciate that:

• A tankless unit translates into lower month-to-month utility costs, which can add up to hundreds of dollars a year.
• You could qualify for state and federal rebates and/or a tax credit.
• Because its lifespan is longer, so is the warranty, some of which run up to 20 years.

The bottom line? If your budget allows it, the higher initial cost of a tankless water heater will save you more money over time.

How to Know if You Should Invest in a Tankless Water Heater 

Homeowners have a lot of options to choose from when investing in a new water heater. Whether a tankless model is your best option depends on your household's needs and your budget. Keep in mind that not all homes are set up to support tankless units and you might need to have your electrical system upgraded to handle the power it needs.

To decide if a tankless water heater is right for you, use online tools that help you calculate your costs and savings and then talk to your plumber about all your options. To learn more about the pros and cons of a tankless system or to schedule a consultation, contact David Gray Plumbing Services online today or call us at (904) 467-0784.