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re: Tankless vs. Tank Water Heaters
Posted on 1/25/15 at 2:40 pm to Mariner
Posted on 1/25/15 at 2:40 pm to Mariner
It absolutely saves you money in the long run by not keeping a tank full of water hot when not needed even with higher upfront costs. It's not a complicated install, I put mine in myself.
1
Posted on 1/25/15 at 3:33 pm to CajunAlum Tiger Fan
quote:
It absolutely saves you money in the long run by not keeping a tank full of water hot when not needed even with higher upfront costs. It's not a complicated install, I put mine in myself.
Unless youre paying cash for your house, you have to factor in the price difference with the interest rate on your mortgage, for the life of the loan.
15 years is the average time someone lives in a home. So unless you can see significant savings in that time, its a wash.
The average cost to run the water tank vs tankless is $15 a month (x12), or $180. Over 15 years that = $2700. Factoring in the difference in price, along with your interest rate over the life of the loan, there is almost no difference.
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