5 Ways Tankless Water Heaters Save you Money

5 Ways Tankless Water Heaters Save you Money

With rising energy costs in the St. Charles area, homeowners are looking to save money and improve efficiency wherever possible. One easy way to find savings is by installing a tankless water heater.

The following tips will help you simplify what can be a complicated selection process and save you money (and energy!) in the long run.

1. Lower your Energy Costs.

Simply using your water heater can account for up to 20 percent of your utility bills. By switching from a storage tank that continually keeps water heated to a tankless system, you can heat your water on-demand and save some energy doing so.

2. No need to worry about replacing a tankless water heater anytime soon.

The life expectancy of a tankless water heater can be more than 20 years. That’s almost double the average of traditional storage water heaters. 

3. You might be eligible for Rebates.

Federal tax credits can save you up to $300 on your tankless water heater purchase. Local rebates and tax credits might also be available in the St. Charles area.

4. Save Space.

Many tankless water heaters are significantly smaller than their traditional storage counterparts. Some can even be wall-mounted and are roughly the size of a carry-on suitcase. 

5. Never run out of hot water again.

While this isn’t exactly money-saving, it’s a benefit worth calling attention to. Because you’re heating water as it’s being used, you won’t run out like you would with a storage system. Goodbye cold showers!

Water heating is often the second largest utility expense in the home.  By taking steps to conserve energy, you will be able to curb your utility bills as well.  It’s important to keep in mind if your hot water heater is 10 or more years old, it’s worth some time to research what kind of water heater is best for your household before your current unit fails.  Also, save yourself some peace of mind and hire a professional to install it for you!