How often have you thought of the water heater for your home? For most people, if it works, we don’t give it a second thought!
But here’s something to think about: do you like saving money?
If so, you have probably seen the new tankless on-demand water heaters and wondered what makes them a money-saver, & different from more conventional water heaters.
The traditional household water heater seen in most American homes consists of a large insulated water tank with a heating element. The water inside is kept at a certain temperature.
Image courtesy of Rheem
An on-demand heater, on the other hand, runs water through a copper heat exchanger, heating it to the desired temperature as it flows through.
This is what makes the tankless heaters so much more efficient. They are only heating the water that you actually use (instead of holding it and constantly reheating a large tank).
Saving Money with a Tankless Water Heater
When they first arrived on the market, tankless heaters were mainly marketed to conservation-minded people with large budgets to spend on home upgrades. Despite the high prices, they were temperamental and a single unit rarely met the household hot water requirement.
Fortunately, newer models are more cost effective and even more efficient. Advances in technology over the past several years have led to tankless water heaters becoming less expensive and more reliable.
Of course, they are still somewhat more expensive than regular water heaters, but when you purchase a tankless model you save money in the long run. Your monthly gas bill will be significantly lower with a tankless model.
Three Ways to Save
There are three areas where you can save money with an on-demand water heater. Due to the gas savings, a tankless water heater will pay for itself in 5-6 years on average.
Beyond that, tankless water heaters tend to be rated for 30-40 years of use, outlasting most conventional water heaters by several years.
Finally, there are often tax credits associated with installing high-efficiency appliances such as on-demand water heaters. Be sure to consult your tax professional for more information on this, as they tend to change often.
Between the three different ways that tankless heaters can save you money, many consumers can save over $40,000 over the life of the unit!
Choosing The Right Tankless Water Heater
When choosing a tankless water heater, there are two main factors that you will need to consider: the flow rate and the ground water temperature in your area. The flow rate is the highest amount of water flow that you will need at any given time.
The average home needs a flow rate between 4.0-7.5 gallons per minute, but you may need more or less, depending on the size of your house, number of people living there, and flow rate of your specific appliances. You should consult a plumber experienced in tankless water heater installations to determine your specific flow needs.
Ground water temperature determines the amount of heat that your unit will need to generate in order to heat the water up to the desired temperature. The tankless water heater’s output is measured in British Thermal Units (BTUs).
Fortunately, in Louisiana, the average groundwater temperature is between 65-70 degrees Fahrenheit, so residents of our area are able to get away with a lower BTU rating, meaning even greater savings on your utility bill.
Taking the Next Step
A tankless on-demand water heater holds several advantages over the older style heaters. If you’re ready to find out more about how a tankless heater can help you save money on your utility bill and eliminate waste, get in touch with us at Three Rivers, or call at (985) 892-7071 to set up a free consultation with one of our trained, professional technicians.