Does A Tankless Water Heater Save Money?

In the modern era, the use of conventional water heater is so outdate. Many people regard that the use of conventional water heater will eat much times and spending more money. Yes, it was probably useful in this era long ago, but not for now. Tankless water heater is the greatest solution for you who admit as a modern human. Tankless water heater is an appliance that no need a tank for installation. It even can work as well without them. So if you want to soak with the warm water, don’t worry, you don’t need a long time just for waiting the tank is full. A tankless water heater as automatically works to fasten the heating process. Instead, there are still many benefits you got from it. But, does a tankless water heater save money?. The answer can be Yes or No.  check these facts below to know!

About A Tankless Water Heater

Almost all manufacturers claimed that their tankless water heaters save money?. Pros and cons of Tankless water heater probably can happen, but every people has the different point of view related with this problem.The cost saving benefits by replacing the  traditional water heater with the tankless one is often be doubtful . For many people, the main attractive advantages of a tankless water heater is situated in its saves space. The negative sides come when that tankless water heaters use a significant amount of power. Indirectly, it would force you to upgrade your  electrical wiring for using a single tankless for your entire house. In fact, it is able to draw more powers than 9 of AC.

Tankless Water Heaters Work

Does a tankless water heater save money?. This statement is related closely with the Tankless water heaters work system. In fact, some Tankless water heaters or known as the instantaneous heaters are not equipped with a water storage tank.  When water passes through a compact heating unit, water is heated optimally.  Therefore, the only savings a tankless type is by providing the elimination of the heat loss.  The losses are about 7 percent for the total water heating energy use. Nevertheless, it also depends on the existing water heater’s age.

Well,  because of water heating spends up to $ 20 of the average FPL bills, the budget savings for a tankless water heater perhaps can be less than $ 2 per month for every customer.  It is just estimation.  Well another fact to consider is when the water temperature in the tankless water heaters could begin dropping down when there are 2 showers were in use at the same time. This condition also influences.  Well, if you have only have a single shower in use, the hot water never run out. That’s what an expert said about the tankless water heater. So overall, if you ask does a tankless water heater save money?, it is relative, depend on you address it.  More advantages you got from this, more useful of this appliance for you.

Installation Rate

In term of installation rate, some studies found that tankless water heaters takes more cost for the installation as well as save less energy. It is extremely contrast than many people claimed. According the local contractor interview we have done, the installation cost for whole home gas tankless water heaters as a retrofit were started from $ 2,000 up to $ 6,000, with the price begins of $2,500 to $3,400. These costs are higher than many manufacturers claimed. Also, you can compare it for the similar contractors estimated the installed cost for a conventional tank water heater that starts from $ 900 up to $ 1,300 with cost ranging from $1,100. Of course, in this term, the use of  conventional is more affordable in the side of installation process.

Electricity Term

The question of “Does A Tankless Water Heater Save Money?” seems related closely with electricity term. When it is compared with an old fashioned atmospherically vented tank gas water heaters, tankless one uses a fair amount of electricity. It commonly used for averaged 5 watts; when they turn on, tankless gas water heaters consumed ranging from 50 till 80 watts of electricity. Moreover when there is addition for the unit’, freeze-protection heater, automatically anelectricity consumption climb up to 182 watts. Overall, an electricity consumption spends for about 5% to 18% for operating costs for this appliance.

tankless water heater cost

The Term Of Simple Playback

Now, it is time for us to calculate the simple payback for the incremental costs of the tankless water heaters you had. At first time, we can assume that the incremental cost of installing for a non condensing tankless water heater started from $ 1,500 to $ 2,500.  So we can conclude that the simple payback period for non condensing tankless water heaters can be ranging from 21 to 30 years.  Also, we can assume that actually the incremental price of installing a condensing water heater on average start from $ 2,500 to $ 3,000 so that the payback period for condensing tankless can last from 27 to 38 years.

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