If you are in the market to have a new water heater installed in your home, there are a number of reasons to consider selecting a tankless water heater. 1. Energy Efficiency
One of the best benefits of a tankless system is its energy efficiency. The tankless system only runs when you need hot water. It can save you between 27 and 50% in water heating costs.
The system doesn't work continuously to maintain the warm water sitting in the tank, therefore not using as much energy as a system with a tank would use. One study suggests that a tank system wastes 40 to 50% of the gas it uses to heat water because it's running unnecessarily.
2. Instantaneous Hot Water
Cold water runs into the system and hot water comes out. It's pretty simple. This means you get instant hot water from your tankless water heater system.
Once the small amount of cold water that is in the water line is gone, the tankless system can continuously produce hot water for you on demand.
A tank water system has enough hot water in the tank. Yet, once the tank is empty, you will need to wait until the water is reheated to have hot water again.
3. Space Saving
A tank water system has to be installed in a location in your home where you have space. The large tank is large and uses valuable space. If you have limited space, like you don't have a basement or even a spare closet, the tankless system can be revolutionary for your home.
No longer will it use up a whole closet. It can be professionally installed on a wall or in the closet but used up significantly less space.
4. Always Have Hot Water
If you have a few people getting ready in your house in the morning and you aren't the first or second in the shower, you know what happens. You are the one that gets the shower without much hot water because your tank water heater has been emptied from the showers that came before you.
It hasn't had time to catch up yet.
This doesn't happen with a tankless system. You can have a continuous flow of hot water because it makes the water hot as you need it.
5. Tax Credits
One great benefit of investing and having installed a tankless water heater is the tax credits you can claim on your taxes. Because the tankless water systems are so much more energy-efficient they qualify for federal tax credits for installing them.
The Nonbusiness Energy Property Credit allows taxpayers to claim part of the cost of the unit and its installation on their taxes to get a credit. This initiative was extended to the end of 2021 for taxpayers to take advantage of.
You or the person who prepares your taxes would use Form 5695 to claim this credit with your tax filing.
6. Gas and Electric
Many tank water heaters are fueled by gas. In other words, they use a gas source to run and heat the water. This is fine if your home has a gas line run. This may not be the case in many scenarios.
Tankless water heater systems can be run with either gas or electric. This gives you much more flexibility on what to buy. It also provides more flexibility for where you can install the unit too.
You are not tied to installing where the gas line is located only. You can opt to put the unit in an upstairs closet instead of in the basement if you choose.
7. Longer Life
Let's face it, buying a water heater is not the most exciting purchase you can make as a homeowner. In fact, you might not even opt to do it until you get that blast of cold water that tells you there's a problem.
The average lifespan of a tank water heater is between 8 to 12 years. Water will corrode the inside of the tank, eventually making it not function properly. Because a tank system runs frequently, it is also going to wear out more quickly.
A tankless water heater system can last up to 20 years. Because it doesn't have the tank that is constantly working to keep warm the system lasts much longer.
8. Longer Warranty Life
It makes sense that a tankless water heater would have a longer warranty than the tank version. Knowing the run less and only work on demand means they are less likely to break.
Because they also last longer, there are better and longer warranties available on them too.
9. Eliminates the Chance of a Flood
A tank water heater holds large amounts of water. There is always the risk that the tank will rupture causing quite a mess with water spilling out of the tank. With a tank system, you run the risk daily of this happening especially as the water heater nears the end of its lifespan.
You eliminate that risk when you select a tankless water heater system. No tank means no chance of the tank leaking or bursting and spilling water everywhere. Even without the risk of a tank rupturing, the tankless system holds only the water it's heating at any given time all but eliminating the risk of a flood or water spill.
