The Pros and Cons of Tankless Water Heaters

If you’ve considered a new water heater in the past, then you’ve probably investigated tankless water heaters. Of course, a lot can change over time, so it’s always good to rethink – what are the pros and cons of a tankless water heater? 

 Pros 

The biggest pro of tankless water heaters is the efficiency. Although the difference varies based on several factors – such as whether you are comparing a gas or electric water heater – tankless water heaters will save you approximately $1500 over the life of the unit, when compared to a standard gas tank model. This is because you don’t have to pay to store heated water; you only heat the water you need.  

Tankless water heaters are also efficient in terms of their lifespans – the average tank system will last anywhere from 10 to 15 years, whereas a tankless system will typically keep heating your water for 20 or more years.  

They are also space-saving – they don’t need a huge storage space for water, so they take up less space and can be great for maximizing your liveable square footage. Instead of the water being heated in the tank, the water is heated - on-demand – by either a gas burner or electric element. This provides a constant supply of hot water (gas models typically heating water faster than electric ones) and means you don’t have to wait for the tank to refill if you use a lot of hot water at once. 

They are also far less likely to leak than a water heater with a tank and are often easier to maintain.  

 Cons 

It might seem like tankless water heaters are the obvious choice, but there are reasons why tank models can be a better fit for your needs. For one, the price of a tankless system can be a huge deterrent – they are not only significantly more expensive to buy, but also more expensive (and complex) to install, repair and maintain. There are cases when you would need the entirety of the lifespan of a tankless unit to recoup your costs, and some situations where it might not be cost saving at all. If you must upgrade your electrical system, install a dedicated gas line, or install a new ventilation system, tankless systems might be the more expensive option.  

Additionally, if you tend to run a lot of things at once – such as doing laundry while someone else is trying to shower – you might discover that you can’t heat enough water fast enough to provide for the whole household. You may require more than one unit or a more expensive model to meet all your needs in a way that doesn’t impinge on your usage.  

Only you can determine if a tank or tankless water heater is your best option. But you are better equipped to make that decision now that you understand the pros and cons of a tankless water heater.