Cost and Savings of Tankless Water Heater Vs Tank Water Heater Comparison

Are the reimbursement of switching from a conventional tank type water heater to a tankless unit actually all that green? There are various tankless water heater vs tank water heater comparisons on the web and many have very valuable information in them. In this article we will give TheBestTanklessWaterHeater.com 's outlook on the matter.

Can switching to a tankless actually slash your utility bill?

All the tankless manufacturers declare that your utility bills will be diminished by at least 20% just by installing a tankless unit. When we first started installing tankless units in our customer's homes we would ask them questions pertaining to their utility costs before and following the tankless installations. What we discovered was very astounding! Customers that had gas/lp tankless units installed saved on average 25% off their prior utility costs. Clients that installed electric units only received a 10%-15% decline. Even while both benefited from investing in a tankless unit the gas units saved the the largest part. When we counted up their average savings on their utility bills after the tankless installation we discovered that the units paid for their selves in 1-2 years. Once more this depends on which tankless you install and your installation expenses, which is dependent on where you reside. Though the gas/lp units have a better payback on installation the electric still saves cash in the long run.

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Example for a Tankless Water Heater vs Tank Water Heater Comparison

Example: Randy's utility bill is an average of about $200 a month. If Randy were to replace out his traditional tank water heater for an electric tankless unit then he would save about $30.00 a month ($360 year). Within 1.5 years the tankless would have compensated for it's self. Now if Randy switched to a gas or liquid propane tankless unit his savings would be $50 a month ($600 a year). Yet again within 1.5 years his tankless unit would have compensated for itself.
A $30-$50 a month savings might not seem worth it to most folks but glimpse at how much you will save over 20 years (the duration of most units). Within 20 years Randy will have saved over $12,000! 20 years is ordinarily the lowest lifetime of most tankless units. If the unit he installed lasts 30 years then that is a savings of $18000. That is not counting the savings he receives from not needing to replace his tank type water heater every 5-8 years. That is an added savings of almost $3000.

*This is only an run of the mill estimated savings. My utility bills are above this estimate and what I would save blew me away. You can easily figure up your exact savings over the next 20-30 years.

Tankless Water Heater VS Tank Water Heater Comparison in America

We have reviewed what the payback are in installing a tankless in your residence but now let's venture into what we could save if all of America switched to a tankless unit.

In one year we could effortlessly save the following:

290 Million gallons of Fuel Oil
6 Billion hours of Kilowatt electricity
164 Million gallons of Propane

Cost of a tankless water heater vs tank water heater comparison

*While tankless units only have to be replaced every 20-30 years and the tank type water heaters have to be replaced on average every 5 years I will figure in the cost over 20 years.

Ordinary Tank Type Water Heater: $1000 to $1600 (Replaced every 5 years for 20 years)
An Electric Whole House Tankless: $500 to $1000 (Replaced every 20-30 years)
A Gas/LP Whole House Tankless: $800 to $2000 (Replaced every 25-30 years)

So with the following information you can make your own verdict if a tankless unit is best for you. Remember to consider in the installation of the tankless units being more costly to install than a tank type water heater. In general however the investment you make by installing a tankless will save you a lot of money over the duration of the unit. That is free money in your purse for the next 20-30 years!

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