Tankless vs. Storage Tank Water Heaters

When it comes to heating the water in your home, you have two types of heaters to choose from: the traditional storage water heater, and the relatively new tankless water heater.

Many people sing the praises of both, and equally find many problems with each type. It can be difficult to determine which is better for your home. You need a water heater that will keep up with your family’s day-to-day activities. Importantly, tt needs to not break the bank each month.

While there’s no definitive answer on which is better, we’re going to break down the pros and cons of each model. This way you can decide which is better for your home and schedule.

What’s the Difference?

Storage water heaters, also known as tank water heaters, are most common in older homes. They’ve been the standard for decades and are what most people are used to. A storage water heater heats water and stores it for use later.

This means that it’s constantly using gas or electric energy to heat the water. That way the water is available whenever you need it. Unfortunately, the tank needs to fill back up and be heated after heavy use. That’s why the shower gets so cold if you’re the last one in.

Tankless water heaters, also known as demand-type, are designed to work without the need for storing hot water. Instead, they use gas and electric energy to heat water as soon as a faucet is turned on. This means that you only use energy when needed, heating water “on-demand”.

The Pros and Cons

Both water heaters have their pros and cons. Which one you choose for your Richmond home is dependent on your specific situation and hot water usage.

Storage Water Heater Pros

Inexpensive initial set-up: Compared to tankless water heaters, it’s overall less expensive to set up a storage water heater. With traditional heaters, you only have to install the storage tank and set up the plumbing. With tankless, it’s a more complicated process that involves more expensive technology.

Maintenance and repairs are less expensive: In order for tankless water heaters to run efficiently, they need complex technology to work correctly. When something goes wrong, you need to hire a plumber to conduct more complicated work. With a storage water heater, the labor and parts are generally less expensive and less time consuming.

Can use multiple hot water applications: Since traditional water heaters use a tank to store the hot water, meaning you can use it in multiple spots. There’s no problem if you run the shower, washing machine and dishwasher at the same time. As long as there is hot water in the tank, all three will keep the same water temperature.

Storage Water Heater Cons

Higher utility bills: Storage water heaters constantly use energy to keep the temperature hot. This is equivalent to leaving the lights on in your home all year long. Worst of all, your energy bill will only get higher in the winter when the heater has to work harder to warm up the water.

Larger size: Since storage water heaters require a tank to store the warm water, you need the necessary space to install it. If you live in the city and have a smaller home, it can be difficult to find the space for it without a room becoming cramped.

Doesn’t hold hot water temperatures for long: If you’ve ever been the last person to take a shower, you’ve probably taken a chilly shower. This is because storage water heaters need time to gather more water and heat it to the right temperature before it can distribute it again.

Only last 10-15 years: Because storage water heaters are constantly working to keep the temperature up, the equipment has a shorter life. Generally, traditional water heaters last up to 10-15 years. Worst of all, a machine failure can lead to flooding, damaging your home.

Tankless Water Heater Pros

More energy efficient: Tankless water heaters are energy efficient by design. Rather than constantly warming up the water, it only uses energy when you need hot water.

Longer operation life: Because on-demand water heaters use less energy, they are known to have a longer lifespan. Usually, tankless water heaters last for 20-30 years. Regular maintenance and water quality can be a factor in this matter.

Small size: Without the need to store water, tankless water heaters are designed to fit almost anywhere. They can fit into tight spaces thanks to their small size and ability to be installed on walls.

Almost instant access to hot water: By taking water directly from your water supply, you don’t have to wait for a storage tank to refill. When you need hot water, it’s available more quickly than with a storage water heater.

Tankless Water Heater Cons

More expensive: Tankless water heaters come with higher installation and repair costs. Because it utilizes more complex technology, you have to pay for more labor and expensive parts. While you’ll save money on your energy bill, that might have to go towards potential repairs.

Difficult to retrofit onto a storage setup: If you’re thinking of upgrading from a storage unit to a tankless water heater, you’ll have to work with a complicated process. Retrofitting your current setup requires moving pipes and relocating energy to make sure the heater works properly. The job can become very complex very quickly.

Can’t handle multiple hot water operations at once: Because tankless water heaters operate on-demand, you may not have enough hot water to go around. If someone starts their shower at the same time as the dishwasher, the shower might get warmer water. This can be a problem if multiple people have to get ready in your house.

Which Do You Choose?

It’s clear that both storage and tankless water heaters have their upsides and downsides. Therefore, there’s no “right” or “wrong” choice. It’s more important to choose the water heater that fits your lifestyle.

If you live in a larger home with a family that has similar schedules, you should invest in a storage water heater. You probably have the room to install one, and you’ll have the added comfort of being able to shower and wash dishes at the same time. Your family will just have to coordinate their schedules to not leave someone with ice water in the shower.

If you live in a smaller home with fewer people that use less hot water than normal, then a tankless water heater is your best bet. It can fit anywhere in your home, making that part of the installation process less of a hassle. You’ll also have hot water whenever you need it, but you’ll have to make sure everyone in the house knows when someone’s using the hot water.

Contact Your Local Plumber

Whether you’ve made up your mind or want a second opinion, you should consult your local plumber. They can take a look at your house’s plumbing and help you decide which water heater best fits your lifestyle.

If you live in the Richmond area, Mike Wilson Plumbing should be your next call. We have over a decade of experience installing and maintaining both storage and tankless water heaters.

Sources:

https://www.petro.com/resource-center/tankless-hot-water-heaters-vs-tank-storage-water-heaters

https://williamscomfortair.com/knowledge-center/tankless-water-heaters-indianapolis/

https://www.energy.gov/energysaver/heat-and-cool/water-heating/tankless-or-demand-type-water-heaters