Tankless water heaters do cost more than water tanks but you do get these advantages.
Tankless water heater vs hot water tank.
Homeowners with on demand tankless water heaters that use less than 41 gallons or less of hot water each day enjoy between 24 and 34 percent more energy efficiency than storage tank water heaters.
Otherwise installing a tankless water heater that is used only for one appliance is another solution.
With regular maintenance and repairs a tankless system may last up to 30 years or up to 3 times longer than a traditional hot water heater.
For a tank based traditional hot water system the lifespan is usually 10 years.
Hot water tank pros.
If you use lots of hot water daily around 86 gallons you might enjoy energy efficiency of an additional 8 to 14 percent.
The operational life of a tankless water heater is usually 20 years if not more.
According to energy research done by energy gov if you are using a 40 gallon tank of hot water or less your energy demand is typically less than 50 percent with a tankless water heater compared to a water heater tank.
The main difference between tankless water heaters and hot water tanks is that tankless models only use energy when you turn on the tap.
This is known as point of use and allows high water demand appliance such as dishwashers to have their own supply.
The cost of a hot water tank is about 60 less than than of a tankless heater.
Cost and process of installing a tankless vs hot water tank.
Tankless water heaters reduce energy use up to 25 but they cost twice as much as standard storage units.