When it comes to doing laundry and washing our clothing, hot water is such an indispensable feature of modern life. Because our hot water comes from our water heaters, a homeowner looking to install a new water heater might wonder if it’s better to install a tankless water heater or a traditional water heater with a storage tank. In the following, our water heater specialists at Miamisburg Plumbing & Drain discuss the two basic types of water heaters and explain the difference so you can make the best buying decision.
Traditional Water Heaters vs. Tankless Water Heater
The average cost to install a traditional water heater with a storage tank is between $825 and $1,700. Tankless water heaters, however, cost more than traditional water heaters on average. Tankless water heater installation has an average cost of somewhere between $1,000 to $3,000 for parts and labor. Each has its upside and downside.
Regardless of what type of water heater you’d like to get, nevertheless, we strongly recommend hiring a licensed professional like Miamisburg Plumbing & Drain for your new water heater installation. When it comes to overall labor costs and the installation of a tankless water heater compared to the labor costs of installing a tank-style heater, you pay more in labor installing a tankless model. This additional cost, nevertheless, is compensated for by the decrease in water heating costs each month. Tankless water heaters save you money on water heating costs, which account for nearly 20 percent of overall home energy costs.
If you have a traditional water heater, the cost is more each month for water heating because it’s keeping the water heated 24 hours a day. On-demand water heaters, nevertheless, only heat the water when required.
What Is a Tankless Water Heater?
Tankless water heaters provide hot water whenever it’s needed in your home or business, no matter what your usage needs might be. It heats it on the spot. These hot water systems are fueled by gas or electricity usually. Their high-powered burners heat the water coming in up to desired levels immediately and transfer it through the heat exchanger before sending it to your shower or faucets. Because they heat water on demand, when required, they don’t have to store it in a tank. Tankless water heaters are powered with either electricity or gas as well. Below we present a breakdown of both types:
Electric-Powered Tankless Water Heaters
Compared to gas water heaters, today’s electric tankless water heaters usually cost less money upfront to install. On average, they run between $800 and $1,500. That’s for professional installation. This lower cost to install is due to the fact that the installation work is a lot easier to perform. Electric water heaters don’t require gas venting like their gas counterparts. They’re also a lot less dangerous because a homeowner isn’t using gas for fuel, which has safety hazards. Common downsides of electric-powered heaters include issues like slower heating rates and higher utility costs.
Gas-Powered Tankless Water Heaters
Gas-powered tankless water heaters cost between $1,000 and $1,500 for professional installation. If your home or building is hooked up to a natural gas line or near one, you are in luck. This will make it much easier to tap into existing gas lines (which we might be required). In any case, you should purchase propane on your own if you don’t have natural gas in your area.
What Are Tank Water Heaters?
Water heaters that use a storage tank are known as traditional water heaters. They are used in about 90 percent of the homes in the country. One of the biggest differences between a traditional water heater and a tankless water heater is the need for a large water tank for storage. These tanks take up space in the home. Some hold and heat as much as 40 to 120 gallons of water. They keep it heated around the clock. Traditional water heaters use a pipe that leads from the top of the water tank to your plumbing and out to all your hoses and faucets. Like a tankless water heater, a traditional water heater uses either natural gas or electricity to heat the water.
The Pros and Cons of Both
The benefits of using a traditional water heater includes the fact that they cost less upfront to install. Additionally, they can heat large amounts of water and store it for when it’s needed. They are also a lot easier to repair. The downside of a tank water heater includes their need for storage space. They also don’t last nearly as long as tankless water heaters and cost more each month on your utility bill because it constantly heats the water.
The benefits of tankless water heaters include their size. Because they are small, they require as much space. They are extremely energy efficient as well, and they heat water a lot faster. The downside includes their expensive installation costs. It costs more because it can require retrofitting, which we at Miamisburg Plumbing & Drain also help perform. Last but not least, tankless water heaters are able to run out of hot water, and their maintenance and repair costs can be more.
Are you looking to install a new water heater?
Whether you want a traditional water heater or a tankless water heater, your hot water heater experts at Miamisburg Plumbing & Drain are always available to help.
Give us a call today at (937) 705-0297, or schedule an appointment online now by clicking here!