Do Tankless Water Heaters Live Up to the Hype?

Tankless water heaters are a type of water heater that has become more popular in homes in today's market. With this type of water heater, there is no holding tank for the water, and the water is simply processed as it is needed. This type of water heater has received a lot of praise, but some people are not so convinced. Here are a few things to consider about whether the tankless water heater lives up to the hype.

Tankless Water Heater

The tankless water heater is a type of water heater that was not available in the past. With this type of water heater, it takes water from the line, heats it instantaneously, and then pumps it into the house. The big benefit with this type of water heater is that it does not have to store any water. When you have a traditional water heater, the water heater will have to reheat the same water over and over again when you do not use it. This can be very inefficient, and many experts originally claimed that the tankless water heater would be able to save homeowners a great deal of money on utility costs because it would not have to reheat the same water over and over again.

Mixed Reviews

Many people purchase a tankless water heater in hopes that they can save substantial amounts of money on their utility bill. However, when it comes to looking at all of the costs involved, you may not be able to save as much money as advertised with this type of water heater.

It is true that tankless water heaters are more efficient than their counterparts. Tankless water heaters can operate at over 80 percent efficiency, while tank water heaters generally operate at 50 or 60 percent. This will allow you to save a little bit of money on your heating bills at the end of the year. 

The only problem with this scenario is that the tankless water heater generally costs quite a bit more than what you could buy a traditional water heater for. In fact, many of them cost as much as three times more than a regular water heater. In addition to that, you will have to run special lines into the water heater which can get very expensive if you are installing one into an existing house. 

With this large initial investment, it would take you many years to be able to break even on your original investment with the savings that you are realizing from the utility costs. Many estimates have said that it would take you over 10 years to repay the initial cost of purchasing the tankless water heater. 

Unlimited Hot Water

One of the big advantages that a tankless water heater does have is that it can produce unlimited amounts of hot water. When you are running your hot water, you will not run out if you have this type of water heater. With traditional water heaters, you will sometimes run out of hot water and have to wait for more to be produced.