Here is a quick and simple comparison between tank and tankless water heaters from Incredible Renovations
- Tankless water heaters are about 10 to 20% more energy efficient than traditional tank water heaters.
- Tankless water heaters can take up less space than tank water heaters.
- Tankless water heaters typically outlast tank water heaters.
- Tankless water heaters don`t use energy until hot water is being used.
- Tankless water heaters cost roughly two to three times more than tank water heaters.
- Due to the initial high cost of buying a tankless water heater, it could take about 20 years in order to start saving money when switching from a tank water heater. By then, the heater will need replacing.
- Tankless water heaters work best when only one water tap is using hot water.
- If water taps are far apart from each other, it is recommended to buy another tankless water heater.
- Water does not instantly heat up when using a tankless water heater, but does with a tank heater.
- With tankless water heaters, water may not heat up if water is only trickling out of the tap.
- Tankless water heaters require yearly maintenance in order to remain efficient.