Budget Battle: Traditional Water Heaters vs Tankless Water Heaters

If you need a new water heater, chances are you’re having a difficult time deciding between a traditional water heater and a tankless water heater. This decision is especially difficult because each option has its merits as well as its disadvantages. This situation can quickly become overwhelming, so we always recommend reaching out to a Charlotte plumber to avoid confusion. Here are some of the pros and cons of both traditional water heaters and tankless water heaters.

Traditional Water Heaters

The way a traditional water heater works is by preheating up to 50 gallons of water and storing the hot water in a tank. This water will remain in the tank until it is used. Some activities in which this water will likely be used include showering and doing the laundry. Once hot water in the tank is used, the tank is refilled and the cycle continues.

A pro of the traditional water heater is that its upfront costs are lower in comparison to the upfront costs of a tankless water heater. In fact, the installation of a traditional water heater can cost up to 50% less than the installation of a tankless water heater. Another pro of the traditional water heater is that it is not only relatively easy to replace, but also inexpensive.

A disadvantage of the traditional water heater is that its use usually results in a higher utility bill. A traditional water heater preheats and heats a predetermined amount of water at a pre-set temperature, no matter what your water needs happen to be. Another disadvantage of the traditional water heater is that it tends to take up more space due to its size. This can make traditional water heaters difficult to place, especially because they can’t be put outside. A final disadvantage is that traditional water heaters often have to be replaced every decade or so.

Tankless Water Heaters

Unlike the traditional water heater, the tankless water heater warms up cool water on-demand. Therefore, water is neither warmed up, nor stored in a tank. Tankless water heaters usually rely on electric or gas sources to heat up the water.
A huge advantage of the tankless water heater is that its use allows homeowners to save money on their energy bills in the long run. Due to its lack of a tank, tankless water heaters don’t take up nearly as much space in comparison to a traditional water heater. Therefore, there are more areas in which a homeowner can install a tankless water heater, including outside on a wall. Another advantage of the tankless water heater is that it has a much longer life. In some cases, a tankless water heater will last twice as long as a traditional water heater. A final advantage is that a tankless water heater can provide hot water quickly as needed. The average tankless water heater provides up to three gallons of hot water each minute.

The main disadvantage of the tankless water heater is its higher initial costs. A homeowner can expect to pay up to $4500 to have a tankless water heater installed in or outside of their home. If a traditional water heater is being replaced in the process, installation costs will be even higher.

As you can see, there are pros and cons to each option in terms of the ideal water heater for your home. Just consider the advantages and disadvantages discussed for each option, and you can make the right decision for your home. Consider contacting a Charlotte plumber if you’re having a hard time choosing between the two options.
Are you ready to take the next step towards optimal home efficiency? It all starts today. Contact our team at (704) 802-1379 today, and let’s get to work!