Americans spend a whopping average of $2,060 annually on energy bills, with 13% of that expense devoted to heating water, according to the Department of Energy.

With all that water-heating energy adding up, it’s no wonder why families are seeking ways to enhance energy efficiency to minimize their expenses. One way people can ensure reliable hot water without stretching their budget is by investing in a tankless water heater.

In this blog post, the experts at Whipple Service Champions explain how a tankless water heater can help save you money, along with other incredible benefits to consider so you can make the best decision for your household.

Are Tankless Water Heaters Really More Efficient?

When it comes to heating water for your home, families typically have one of two options: a standard tank unit or a tankless water heater. But are tankless water heaters really the more energy-efficient option? According to the Department of Energy, the answer is a resounding yes.

Families using 41 gallons or less of hot water daily can experience between 24% and 34% greater water efficiency just by using a tankless water heater. That increased efficiency results in an average of $108 in annual savings for gas-powered units, or $44 in annual savings for electric systems.

Are Tankless Water Heaters More Expensive?

While tankless water heaters undeniably offer greater efficiency and monthly cost savings as a result, these systems do require a bigger upfront investment compared to storage tank systems.

Due to the installation complexity of these systems, the cost to install a tankless water heater can be between $200 and $700 more than a traditional tank unit, according to a Consumer Reports study.

Tankless water heaters cost more to install, and the return on your investment may take a while to recover depending on the type of system you choose. Gas-powered tankless water heaters may not provide a return on your investment for 22 to 27 years while electric tankless water heaters can provide an ROI sooner, between 12 and 20 years later.

That might seem like a long time to wait to recover the costs; however, tankless water heaters last much longer than standard tank systems, so you won’t need to worry about paying for replacements until at least 20 to 25 years compared to the eight- to 12-year lifespan of a traditional tank system.

Additional Benefits of Tankless Water Heaters

Along with enhanced energy efficiency and a longer lifespan, tankless water heaters offer many other benefits that families should consider before making a final decision. Additional advantages include:

• Continuous hot water supply: Tankless water heaters provide an endless supply of hot water on demand. Unlike traditional tank water heaters, which can run out of hot water, tankless models heat water as it passes through the unit, ensuring a continuous flow.
• Lower risk of bacterial growth: Traditional water heaters can be breeding grounds for bacteria, especially if the water temperature isn’t properly maintained. Since tankless units heat water on demand, there’s a reduced risk of bacterial growth, offering cleaner, safer water.
• Reduced risk of water damage: Since tankless water heaters don’t store large amounts of water, there’s a significantly lower risk of leaks and water damage compared to traditional tank water heaters.
• Space-saving design: Tankless water heaters are compact and can be mounted on walls, saving valuable floor space. This is particularly advantageous in smaller homes or apartments.

Install a Tankless Water Heater With Whipple Service Champions

Think a tankless water heater is worth the investment for your family? Whipple Service Champions has the selection of state-of-the-art systems you need to enjoy ongoing energy savings for your home in no time.

With upfront pricing and plenty of financing solutions, we strive to make your installation experience as stress-free and affordable as possible. Our technicians get over 100 hours of annual training to ensure you always receive the most advanced solutions available.

Schedule tankless water heater installation in Salt Lake City, UT, by contacting our team online today.