Should I Buy a Hot Water Tank or a Tankless Water Heater?
It’s a question that all home owners face at one point or another. The truth is that there is no one answer that is perfect for everyone. Both tankless water heaters and hot water tanks work well, but they have different pros and cons that can matter when you’re trying to save money in the long run. The information below should help you get started, but it won’t cover all situations.
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How to Choose Between a Hot Water Tank and a Tankless Water Heater
If it’s time to replace your water heater, one of the first decisions you need to make is whether to go with a conventional hot water tank or a tankless model. The right choice will depend on your home, your lifestyle and your priorities.
Tankless Water Heaters
A tankless water heater only heats water when you need it, and saves on energy costs. But tankless water heaters do cost more, and installation can be an added expense with some brands if your energy supply and your venting are configured for a tank. The good news is that only tankless water heaters qualify for provincial and other rebates.
Upgrading to a tankless model may be right for you if:
- It’s about the monthly bills. If saving money on your monthly energy bill and being kinder to the environment are priorities for you, go with a tankless. Considering that energy rates will likely rise in the coming years, this may be a smart move.
- You plan to stay in your home for the foreseeable future. A tankless water heater will pay off in the long term, but only if you’re still in the house when the energy savings catch up to the cost to purchase the tankless water heater.
- You work all day and/or travel frequently. Most of us would rather not pay to heat water while we’re away and aren’t around to use it.
- You’ve had too many cold showers. If you have a larger family and often find there’s not enough hot water to go around, a tankless model will provide hot water as long as the tap is running.
- Reclaiming space is important. Tankless water heaters are smaller units that attach to a wall. Tanks require at least 9 square feet of floor space for the tank itself plus clearance space for safety.
- You’re prepared to provide proper maintenance. Over time, any water heater will experience buildup within the tank and its pipes due to minerals and debris in the water supply. Some tanks can continue working without maintenance, but tankless models do require yearly maintenance to keep that efficient performance happening.
- You want a water heater that lasts longer. Tanks usually last 10 – 15 years but tankless models will last 20 or more with regular maintenance.
- You have a finished basement. Hot water tanks are famous for flooding basements when they fail – the bottom can fall right off. If you have a finished basement and a flood would mean thousands of dollars in damage, it’s smarter to get a tankless model. They have failsafes that prevent flooding if they break down.
Tankless water heater technology has come a long way, and they are now more efficient and robust than ever. Husky only installs models that have proven themselves to be reliable in real world conditions.
Conventional Hot Water Tanks
Conventional water tanks keep a stored tank full of water heated to your set temperature around the clock – whether you use it or not.
A standard water heater may be right for you if:
- Your budget is very tight. Tanks use more energy, but are less expensive to buy. This makes them a more budget-friendly solution in the short term.
- You will not be staying in your home long term. Over the years, the energy savings will offset cost of buying a tankless water heater, but it does take time. If you’re planning on moving in a few years, go with a water tank.
- You’re home frequently during the day. Water tanks heat water all the time. If you’re a senior or someone else who is at home during the day, a tank can make more sense.
- Your family is smaller. If there are only a couple of people who need hot water, a tank of the right size should provide what you need.
- Saving space doesn’t matter. If the comparatively large size of the water tank and the space it occupies is not an issue, then a water tank is an option for you.
Even if you do need to go with a standard water tank, some models are more efficient than others, and many are Energy Star qualified.
Still not sure which option is the best choice for you? It makes sense to discuss the options with the water heater professionals at Husky.Request A Free Quote