When deciding between a water heater and a tankless water heater, cost is often a major factor. Let’s look at both the upfront investment and ongoing operating expenses.
Upfront Costs
Traditional Water Heaters: These typically cost between $300 and $2,000, depending on size and features. Installation usually runs between $500 and $1,000.
Tankless Water Heaters: These are more expensive upfront, ranging from $1,000 to $3,000. Installation costs can reach up to $1,500, especially for retrofitting.
Efficiency and Utility Bills
Tankless units are more efficient. They heat water only when you need it. This saves energy and lowers your utility bills. Traditional tanks, on the other hand, constantly reheat water, which increases energy usage and costs.
If you’re willing to pay more upfront, a tankless unit can save you money in the long run. For expert advice on what’s best for your home, Spot On Plumbing is here to help!
Traditional Water Heaters
Lifespan: Most last around 10 years, with some gas models needing replacement as soon as 6 years.
Maintenance: You need to flush regularly to remove sediment buildup. Parts like the heating element may also need replacing over time.
Tankless Water Heaters
Lifespan: Tankless systems can last up to 20 years, making them a long-term investment.
Maintenance: They need less care because they don’t have a storage tank. However, you may need to descale them sometimes, especially in areas with hard water.
Tankless systems have a compact and durable design. This often makes them a reliable choice. However, they can be more expensive to repair if problems occur.