So you're getting to the end of your water heaters life, and thoughts are running wild through your head. Thoughts about.. the cost, worrying if it is going to start leaking and destroy the surrounding areas, and wondering who you are going to call when the time comes you need a replacement. The fact of the matter is, Hot Water Heaters are considered a major appliance and investment to your home. Today, there are 6 different types of water heaters available on the market to purchase; A conventional storage tank type (whether chimney gas or electric), Powervented storage tank unit (Natural gas or Propane), Heat pump water heaters, Solar Powered Water Heaters, Condensing Water Heaters and then you have... the Tankless Water Heaters. With the Tankless Water Heaters becoming more of a common install in the industry today, there are many benefits to installing one of these units over a traditional water heater.
On average, a househould of 4 spends approximately $600 a year heating a 40 gallon water tank (or $950 a year for a 75 gallon gas Water Heater) compared to approximately $396 (a 34% savings) with a Tankless Water Heater! While standard Water Heaters heat the full tank of water, it will run on an average of 3 hours a day. Compared to the Tankless unit, that only turns on when called for hot water, averaged 1 hour a day.
Cost of Install
Currently, a swap out of your existing traditional Water Heater tends to be cheaper than a Tankless Install. There are many factors surrounding the reasons behind this; the main being cost of unit. Switching from a chimney vented Water Heater to a Tankless Water Heater will be more expensive than between a Power-vent unit and Tankless Water Heater. The main difference is the need to run new PVC vent piping if you currently have a Chimney Vented unit. To determine what type of unit you have, look at the top of the Water Heater; if it has a metal pipe exiting the top, it is a chimney; if it has a motor on the top with a PVC pipe exiting it, it is considered a Powervent Water Heater. Conventional Water Heaters range from $1200-$3000 to install, whereas a Tankless Water Heater may cost between $3200-$4500. Other factors that are considered when pricing out a Tankless Water Heater are gas pipe sizing, location of unit and mounting, as well as additional pipe work needed to complete installation.
Between a traditional style Water Heater and a Tankless Water Heater, there are many differences overall. Warranties being a big one. We like to feel comfort in knowing if something were to happen to our investment, will it be covered and at what cost?
Traditional Storage Tank Water Heaters
Tankless Water Heaters
*With a traditional Water Heater, if it leaks or becomes nonoperational within 6 years, you're 100% covered. With a Tankless Water Heater, you are typically covered for a FULL 5 years and the remaining 10 is covered through the manufacturer, as long as it is the Heat Exchange that fails. Tankless Systems have been around for a long time, but really hit the market in the 1990's. Since then, the failure rate of these types of systems have been primarily within the Heat Exchangers. Over the past 10 years, companies producing these systems have put a lot of focus on building quality products and are constantly redesigning the Heat Exchangers, that allows them to have a 20+ year operating life, while also offering a great warranty on their product.
If one of these Tankless systems seems like it could be beneficial to you and your family, reach out to us today! A skilled technician would be happy to come evaluate your system and assist you on any questions you may have.
We at Home Advantage Plumbing Services offer the most comprehensive packages to best suite your needs and lifestyle at a price you can afford, guaranteed.
Tankless Water Heater Install - 40 Gallon Powervent to Navien 240A