With so many energy-efficient water heater options available, many homeowners are left wondering if it’s worth the investment to buy a new one. If you’re trying to determine if you should replace your current water heater, consider the pros and cons of today’s modern appliances.
The Pros
Tankless water heaters will heat your water as you need it. This eliminates the need for a tank, which immediately makes them more efficient. Heat pump water heaters go one step further by using the heat from the air surrounding them to heat the water. Then you have solar versions that rely on the sun for their energy, offering a significant savings.
Since water heaters greatly reduce your energy consumption, you’ll enjoy much lower monthly utility bills. A traditional water heater with a tank has to continuously heat and store water. There’s always a risk of heat loss with this version, meaning more energy loss. On the other hand, more efficient tankless models or heat pump water heaters provide hot water on demand. This greatly reduces energy consumption. They also decrease greenhouse gas emissions, making them environmentally friendly.
Tankless water heaters have a longer lifespan than traditional water heaters. They also take up much less space. This makes them ideal for smaller homes, which is another important consideration when debating whether to invest in one.
The Cons
A new water heater can be expensive, especially heat pump and tankless models. The average tankless water heater ranges in price from $1,398 to $3,893. Heat pump water heaters cost roughly $1,200 to $2,500. A traditional tank water heater can be priced as low as $600. The size of the water heater, the quality, and the brand all affect these numbers.
These energy-efficient water heaters require a more complex installation than a standard water heater. Heat pump models also need more specific maintenance and repairs.
A tankless water heater isn’t foolproof. It can experience inconsistent water temperatures during periods of peak usage. This is especially true if you’re using more than one fixture at a time. And electric water heaters will leave you in the lurch during power outages.
There is no definitive answer to what the best investment is for your home. You will need to carefully weigh the pros and cons and make your decision according to your own unique hot water needs. Contact our professionals at Benjamin Franklin Plumbing in Cedar Rapids, IA, and ask for more information about our water heater services.