When it comes to saving money on your monthly utility expenses, every dollar counts. Many of us try our best to do so by conserving the amount of water we are using, shortening our hot showers, and turning our house temperature down when it gets warmer outside.
If you’re looking for another way to save some money in the long run, continue reading on about the benefits of tankless water heaters versus traditional water heaters.
What Are Tankless Water Heaters?
Tankless water heaters allow for quickly heated water to flow out your faucet or shower-head without hot water ever being stored. This is done by heating the water only when you are using it.
As it sounds, tankless water systems don’t store any water. That means that the unit is much smaller, and it also means you’ll never run out of hot water in the middle of a shower again.
They work by using a computer system that detects when you have turned the hot water handle, which in effect activates the electric or gas heater that directly heats water as it passes through the system.
Tankless water heaters should be placed close to where you are going to be using hot water. You can place as many as you would like in your home, and can also connect them in parallel if you want to have constant hot water while your dishwasher is running and you are having a hot shower at the same time.
How Much Am I Going To Save Using a Tankless Water Heater?
If your home uses less than 155 litres of hot water daily, tankless water heaters can be 24%-34% more energy efficient than traditional water heaters.
If your home uses more than 325 litres of water daily, then tankless water heaters are around 30%-40% more efficient than the conventional water heater.
To achieve maximum energy savings with tankless water heaters, install them at every spot where you will be using a decent amount of hot water each month. Doing this can provide between 30% to 50% more energy efficiency versus traditional water heaters.
The price of a tankless water heater is initially higher than a storage water heater, but tankless ones last longer, have less energy and operating costs, and have easily replaceable parts that are usually covered by a warranty.
Demand water heaters (another word for tankless) last approximately 20 years or more depending on their quality. By comparison conventional storage water heaters typically stop working after 10 – 15 years.
How to Choose a Tankless Water Heater to Buy
If you have a small household and don’t expect to use hot water a lot throughout the day, a less expensive model can be purchased and still provide you with hot water fast enough that the hot water doesn’t stop.
If you need a lot of hot water flowing at the same time, such as 2 showers and a dishwasher, then you’ll need stronger heaters to accommodate the increase in total hot water flow. You can install low-flow water fixtures to reduce the total flow rate of your devices.
For a detailed guide on calculating which tankless water heater you should by, click here.
To learn more about tankless water heaters, visit the Government of Canada website.