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Temprite Climate Solutions Blog

How a Tankless Water Heater Can Save Money

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Is it time for a new water heater installation in Parksville, BC for your house? Then you may have already considered going the “tankless water heater route.” If you haven’t, we encourage you to give it some consideration.

Tankless water heaters are becoming more popular each year, appearing in more new homes, condos, and apartment complexes. They save space compared to standard storage tank systems, and they have a host of other benefits. They cost more to purchase upfront, but as we plan to show you in this post, they offset that cost with the ways they can help you save money.

Tankless water heaters consume less energy

The main source of money savings a tankless water heater provides is a reduction in general energy consumption. The reason for this is that tankless water heaters don’t suffer from standby heat loss that requires them to run regularly even when there is no demand for hot water. 

The standard storage-tank water heater keeps a supply of water at the ready for use. The water can’t stay hot indefinitely; no matter how well insulated the tank is, heat escapes from it and the water starts to cool. This is known as standby heat loss, and the water heater’s burners must turn on regularly to replace the lost heat and keep the water at its high temperature. 

Because a tankless water heater stores no water at all, it doesn’t need to run regularly to reheat the water. It only uses energy when there’s a demand for hot water. If you live in a household that uses 41 gallons of water or less per day, a tankless water heater can be 24%–34% more energy efficient. That can mean large savings off your energy bills.

Tankless water heaters last longer

Because tankless water heaters run less often and don’t have the strain of holding a large water supply in a tank, they will last longer overall than standard water heaters. A storage tank water heater can last around 12 years, while a storage-tank water heater can average 20 years (provided it receives regular maintenance). That means you get a longer return on your initial investment and more years to reap the benefits of its high energy efficiency.

Increase in home value

Tankless water heaters can add value to your house and make it more attractive to potential buyers if you put the house on the market. As we mentioned above, tankless water heaters are rapidly becoming the main choice for new homes—and this will put your home ahead of the curve and give you a great ROI.

When you combine the potential money savings with the other benefits of tankless systems—unlimited hot water, small space—you’ll understand why so many homeowners are looking into these water heaters. However, we strongly advise that you don’t make the jump to a tankless system without first consulting our professionals. Tankless isn’t the best option for all homes, and our technicians will assist you with finding out if this technology is ideal for your situation.

Temprite Climate Solutions serves Courtenay, BC and Surrounding Areas. For a job done right, call Temprite!

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