This is probably one of the biggest questions that we get asked every week. As you can imagine every home and lifestyle is different. Tankless water heaters are a lot more efficient than your standard tank water heater.
A typical tank water heater ranges from .57%-.60% efficient
A typical tankless water heater ranges from .92%-.98% efficient
What does .57 efficiency mean? Essentially this means for every dollar you spend to heat your water .57 cents are being used and .43 cents goes to waste. So going to a tankless that’s rated at 98% efficient you can only imagine how much money you can save….
With all that being said my opinion on tankless still will come back to lifestyle. The first question I ask is do you run out of hot water now with your tank style heater? Do your kids take very long showers and you always hear them saying “Dad, Johnny used all the water”. This is where a tankless really starts to make sense. With a tankless you can take a shower 24 hours a day and never run out of hot water…
So as you can see, like anything else, it’s not all about the ROI, but most of the time comes down to lifestyle and your return on your investment.
Biggest Benefits to Tankless:
- Endless Supply of Hot Water
- Space Saving Design
- Eco-Friendly Design
- Saves on Utility Bills
- Local Utility Rebates Available