Tankless water heaters promise consumers an abundant and quick supply of hot water on demand. It’s no wonder that millions of these units are installed in homes each year. But, considering that these units are more expensive upfront, you’ll need to make sure that it makes sense to switch from a tank-type water heater to a tankless one.
Do We Install Tankless Water Heaters?
Fast Water Heater Company does install tankless water heaters. We offer most major brands, including indoor and outdoor units. There are three types of tankless water heaters that we can install in your home:
Non-condensing – These are first-generation units that offer proven tankless water-heating technology using a single heat exchanger. They do require the installation of stainless steel venting for exhaust and are slightly less efficient than other on-demand units.
Condensing – These units use two heat exchangers, which increases their efficiency by up to 94%. Venting can be accomplished using PVC, which is more affordable.
Condensing hybrid -These third-generation units incorporate small holding tanks to hold a reserve of hot water. They can also be vented using PVC and operate at up to 94% efficiency.
How Much More Are Tankless Water Heaters?
Tank-type water heaters may cost less initially, but they aren’t very efficient. The water in those tanks is re-heated multiple times per day, even when no one is home or has a use for the hot water. This can be an enormous drain on your resources.
Before you place your order, you’ll need to consider the upfront cost of a tankless water heater, which is more than a tank-type unit.
The average tankless water heater costs just over $1,000 for a gas unit or around $600 for an electric model. However, switching to a tankless unit also requires some retrofitting of utility hookups and venting, which will involve some additional expenses.
Cost Savings from Tankless Water Heaters
While a tankless unit costs more upfront, your cost savings are going to come over time.
According to the Department of Energy, a gas-powered tankless heater can save$108 in energy costs annually on average and electric tankless units save about $44 annually. These units also have longer warranties and a longer useful life.
A few other advantages of tankless units are that they take up less space in your home and are better for the environment (no rusty tanks heading to the landfill). You also won’t have to worry about the potential for a failing tank leaving a mess in your home and causing serious damage.
If you’d like to learn more about the tankless water systems we offer, give us a call. We can provide you with a free estimate and outline your options for a variety of different types of units.