![]() ![]() The capacity required for your hot water needs will determine which price range your water heater will be. Read on below as we compare storage tank water heaters to tankless water heaters, including initial cost, things to consider and how to size a water heater for your home's needs. Depending on the household's usage of hot water, storage tank models could be a more cost effective option. Storage tank water heaters have a lower initial cost, and purchasing one that's insulated can reduce standby heat loss and operating costs. However, that's not to say tankless water heaters are the best solution for everyone. ![]() Higher usage homes averaging around 86 gallons daily can still see up to 14% in energy efficiency compared to storage tank water heaters. According to the US Department of Energy, homes with tankless water heaters using less than 41 gallons of hot water per day can see energy savings of up to 34%. While the storage water heater is more affordable initially, the cost savings can add up. When the time comes to replace the current water heater, do you plan to purchase a storage tank water heater or the more energy-conscious tankless water heater? A water heater is considered a long-term investment and a necessity in every American home. ![]()
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