Will a Tankless Water Heater Save You Money?
There is not a simple answer to this question. The simple answer is yes, in theory a tankless water heater will save you money if your water usage stays the same as a tank water heater.
However, most people do not see dramatic savings, simply do to the fact that now they have all the hot water they want. Longer showers than they did with the old tank type water heater. Why? They no longer have to consider that there may be another family member or members waiting to take a shower! Now multiply that times two, three, or four people taking extra long showers and you can quickly see why most times there are no savings.
Yes, tankless water heaters will save the consumer hot water heating fuel cost if they treat the tankless water heater like they did a tank type water! Most people don’t. People that have a tankless water heater, opt to have them for the fact that they have all the hot water they want.
Overall if you can keep your hot water usage similar to what it was prior to having an on demand water heater you will likely see your energy costs go down once the tankless has been installed.
Most people find that they don’t really see a reduction in energy costs because they tend to use more hot water since they have it available. Because of this energy costs are usually similar to what they were before.
- Less energy used to heat same amount of water.
- Increase hot water usage. Longer showers.
- Use multiple water-using appliances at once.