Water heaters are a necessity for every American household. During the cold winter months, everyone relies on their water heaters for hot water to be used in bathing, cooking, and cleaning or washing. According to HomeAdvisor, installing a water heater can cost you an average of $1,165. A water heater unit can cost around $300 to $2,000+ while the plumber labor runs $45 to $150 per hour. While the initial cost can be expensive, getting a water heater equipment can help keep your home safe and healthy during harsh weather conditions.
When buying a water heater, you can choose between a tankless water heater and a storage tank water heater. To know which type of water heater you should pick for your home, learn more about their significant differences below.
Tank systems store hot water in a tank until it is needed in the home. When you turn on the hot water tap, the water is released at the top of the tank and into bathrooms or kitchens via a pipe. According to Consumer Reports, a storage tank water heater typically has a capacity of 30 to 60 gallons, but the most common size is 50 gallons.
On the other hand, a tankless water heater, as its name suggests, does not store hot water in a tank. It heats water only when you need it using a heat exchanger. The heated water becomes available in just a few seconds and travels directly to the required location in your home.
When it comes to the purchase price and installation, choosing a tankless water heater system can be more expensive. A storage tank water heater can cost you up to $590 and $700 while the installation runs $600 to $800. However, some homeowners prefer to do the plumbing installation on their own, saving money on labor costs.
Meanwhile, the average residential tankless water heater model can cost you from $800 to $1,500. That is a large amount of money for the unit alone. When combined with the labor cost, a tankless water heater installation can bring the total cost to $1,800 to $3,000. Compared to conventional water heaters, tankless models take up less space and are faster to install.
Tankless water heaters are popular for being energy efficient. It allows you to use 24% to 34% less energy for every consumption of 41 gallons or less of hot water daily, as reported by FIXR. Meanwhile, due to the continuous use of energy to heat water in the tank, the utility bills can be a little higher when installing tank storage water heaters.
According to the United States Department of Energy, most tankless water heaters have a life expectancy of more than 20 years while storage water heaters last 10 to 15 years. Proper maintenance, however, can have a huge impact on your system’s longevity. Water heaters need to be serviced regularly by a professional to maintain its good working condition.
Are you planning to replace your old and faulty water heater? Experts at Henco Plumbing recommend that you use a professional service to get the most benefits of a new water heater. What are you waiting for? Schedule a personal consultation with a licensed and experienced plumber today!