How Much Money Will a Tankless Water Heater Save Me?
Tankless water heaters are more expensive to install than tanked systems are, which can make you wonder if it’s worth the expense. But consider this: a tanked water heater lasts for about 10 years, whereas a tankless water heater last for 20 years or more, which helps to even out the installation costs.
Tankless water heaters are also more efficient than a standard tanked system. When a standard, tanked water heater is running, it’s only about 70% efficient. That means for every unit of gas that goes through the heater, 70% is used to heat the water and 30% is wasted. Tankless systems are 95% efficient. When a tankless system runs, 95% of the gas is used to heat the water and only 5% is wasted.
Because the tankless system operates more efficiently with little energy loss, you’re saving up to 50% on your gas bill over a standard, tanked system. When you think about saving 50% on your gas bill for over 20 years, the savings can really add up!