When it comes to bathing and doing laundry, hot water is such an indispensable part of our home. Because hot water comes from our water heater, a homeowner might wonder if it’s better to install a tankless water heater or a traditional model with a storage tank. In the following, our experts at Mason Plumbing & Drain compare the two basic types of water heaters and explain what you should know about each to make the best buying decision.
Tankless Water Heater vs. Tank Water Heaters
The average cost to install a traditional water heater is usually between $825 and $1,700. If you look at the average price, you can expect to pay about $1,500 on average for parts and labor. Tankless water heaters, nevertheless, usually cost more than traditional water heaters, which heat water and keep it heated inside a storage tank. Tankless water heater installation has an average cost of somewhere between $1,000 to $3,000.
Traditional water heaters cost $300 to $2,000 on average in parts for the tank alone. For labor costs, a homeowner can expect to pay at least $50 per hour. Regardless of what type of water heater you choose, we strongly advise hiring a professional like Mason Plumbing & Drain for water heater installation. When it comes to overall labor costs and the installation of a tankless water heater compared to the labor costs of installing a tank-style heater, you pay more in labor to install a tankless model. This additional cost, nevertheless, is compensated for by the decrease in water heating costs each month. Tankless water heaters save you money on water heating costs, which account for nearly 20 percent of overall home energy costs.
If you have a traditional water heater, it costs more each month to heat water because it’s keeping the water heated around the clock. On-demand water heaters, however, only heat the water when it’s needed.
What Is a Tankless Water Heater?
Tankless water heaters constantly provide hot water as needed to your home or business, no matter what your usage needs are. These hot water systems are fueled by either electricity or gas. They use high-powered burners to heat the water coming in up to desired levels immediately and transfer it through the heat exchanger before sending it to your faucets or shower. Because they provide heated water on demand, as needed, they don’t need to store it in a storage tank. Tankless water heaters are also powered with either electricity or gas. In the following, we examine both types:
Electric-Powered Tankless Water Heaters
When compared to gas water heaters, electric tankless water heaters usually cost less to install. On average, they usually cost somewhere between $800 to $1,500 for professional installation. Their lower cost to install is because the installation work is much easier to perform. Electric water heaters don’t require gas venting like their gas counterparts. They are also significantly less dangerous because you aren’t using gas, which has hazards. In spite of this, some of the common downsides about electric-powered heaters are things like slower heating rates and higher utility costs.
Gas-Powered Tankless Water Heaters
For natural gas or propane-powered tankless water heaters, you can expect to pay between $1,000 to $1,500 for professional installation. If your home or building is already hooked up to or near a natural gas line, you’re in luck. This makes it easier to tap into existing gas lines (which we might be required). In any case, you will have to buy propane on your own if you don’t have natural gas in your area.
What Are Tank Water Heaters?
Water heaters with a storage tank are traditional water heaters. They are the type of water heater being used in about 90 % of the homes in the U.S. One of the biggest differences between a tankless water heater and a traditional water heater is the need for a large water tank. These tanks take up space in the home. Many of them hold as much as 40 to 120 gallons of water that it keeps heated around the clock. Traditional water heaters use a pipe that leads from the top of the water tank to your plumbing and faucets. Like a tankless water heater, traditional water heaters use natural gas or electricity to heat the water.
The Pros and Cons of Both
The benefits of traditional water heaters include the fact that they cost less to install. They can heat large amounts of water and store it for when it’s needed. Plus, they are easier to repair. The downside of a tank water heater includes their need for storage space. They also don’t last as long as the new tankless water heaters. They also cost more each month on your utility bill because it’s constantly heating water.
The benefits of tankless water heaters include the fact that they don’t require as much space. They are very energy efficient as well, and they heat water quickly. The downside includes their expensive installation costs. It costs more because it can require retrofitting, which we at Mason Plumbing & Drain can perform. Additionally, tankless units can run out of hot water, and their maintenance and repair costs can be more.
Are you ready to install a new water heater?
Whether you want to install a traditional water heater or a tankless water heater, your hot water heater experts at Mason Plumbing & Drain are always available to help.
Give us a call today at (513) 298-6996, or schedule an appointment online now by clicking here!