If you’re thinking about replacing your water heater, good for you! Studies show that most water heater replacements are done in emergency conditions. So if you’re checking out possible replacement systems before your current household water heating appliance has expired, you’re ahead of the curve. This is an opportunity to assess your household’s needs and decide whether your next water heater should be a tankless or a storage tank heater. The latter have been around longer and are more familiar to most people, but tankless water heaters have come a long way in the past couple decades and they deserve the consideration of every homeowner.
Storage Water Heaters
These cylindrical tanks typically hold 30 – 60 gallons of water, constantly heating the water inside to the desired temperature.
Pros:
Storage tank water heaters have a simple design compared to tankless heaters, which means lower installation and maintenance costs. This especially applies if you’re replacing a similar model. If the current unit is in a tight spot already, you should check on your state and federal energy efficiency regulations – a replacement of the same volume may need more space, since more insulation is now required. Their other major advantage is the ability to meet demand for high volumes of hot water.
Cons:
Energy bills for a are a bit higher than an equivalent tankless heater, especially if the unit is housed in a basement during a cold winter, and they need lots of space. Once their reservoir of hot water is depleted, it takes a long time to heat it back up. Plus, the lifespan of the unit is short – you’ll need to replace it in 10 – 15 years.
Tankless Water Heaters
These small, suitcase-shaped appliances can fit inside a closet or even on an outside wall, and heat water only when it’s needed.
Pros:
If you’re using 40 gallons or less per day of water (which is most people), a tankless water heater will use a quarter to a third less energy than a comparable tank heater. You won’t need to replace it for 20 – 30 years, and its compact size is a big plus for folks with limited space. The biggest upside: hot water is available almost instantly.
Cons:
The upfront costs for tankless water heaters can be roughly double those of a storage heater. They achieve energy efficiency by turning off the heat when hot water isn’t needed, unlike a storage heater. However the spike in demand when it’s turned on can necessitate electrical system upgrades. And, the main complaint: they can’t keep up with very high demand – you can’t run multiple showers and your laundry too.
Which water heater is right for your home buy depend on your overall situation. Storage tank water heaters are probably the best choice for people who are trying to keep installation and maintenance costs low, or who need to, say, wash all the uniforms for a large sports team on a regular basis. If you have the funds to invest up front, and your daily demand is relatively low, or if your living space is truly petite, then a tankless water heater may be best for you.