Are tankless water heaters a worthwhile investment?
Heating water accounts for up to 30 percent of the average home’s energy budget. Some makers of gas-fired tankless water heaters claim their products can cut your energy costs up to half over regular storage heaters. So is it time to switch?Probably not. Gas tankless water heaters, which use high-powered burners to quickly heat water as it runs through a heat exchanger, were 22 percent more energy efficient on average than the gas-fired storage-tank models in our tests. That translates into a savings of around $70 to $80 per year, based on 2008 national energy costs. But because they cost much more than storage water heaters, it can take up to 22 years to break even—longer than the 20-year life of many models. Moreover, our online poll of 1,200 readers revealed wide variations in installation costs, energy savings, and satisfaction.
Thinking about replacing your water heater? Here’s a relatively new options that just might be a fit. Tankless water heaters have been around for a while, but the high cost has kept them out of most homes….especially in our part of the country where storage space isn’t necessarily a luxury. But the prices are coming down and eco-friendly Colorado Springs homes for sale are becoming more and more popular. The high initial cost of this type of water heater may soon be worth it with the rising cost of utilities. And even though the author of the article doesn’t believe in the technology yet, I have a feeling that tankless water heaters will continue to gain popularity. The tankless water heater means the end to waiting on the shower to warm, the end to waiting for hot water in the kitchen, and the end to running out of hot water when filling the bath tub. I don’t know about you, but that sounds great to me!
