Of course, water heaters are not the most exciting topic. However, over the past eight months, the cost of water heaters has soared, creating a new trend that may be here to stay.
So why have water tanks nearly doubled in cost? It all started with an ice storm that seriously damaged an insulation plant in Texas. The damage was catastrophic, and this plant was the primary supplier of insulation for a large producer of tank water heaters. Since this event, we have seen water heater shortages and price increases. While the lack of water tanks has subsided, the cost of these units has not lowered, and it also looks like this price will continue to rise. With tank water heaters being so costly, the most popular alternative has been to go tankless.
Tankless water heaters are an excellent option for mid to large families and anyone who has a higher demand for hot water.
Tankless solutions are more energy-efficient, can heat water indefinitely. Since tankless solutions have not had the same increase in price, they are now as cost-effective as most “tank” water heater solutions. If you are in a rush for hot water, you can install a recirculation loop to ensure immediate hot water right out of the tap. It’s also worth mentioning that recirculation loops also work with traditional tank systems.
What are the benefits of tankless? First, the water is only heated when there is a demand for hot water. In contrast, tank water heaters must keep the tank hot, even when not being used. Second, tankless becomes an excellent solution for homeowners who travel or have 2nd homes as the unit can be idle or even turned off when leaving home. When the homeowner returns, turn it back on and have hot water without the typical wait of a tank unit. Another advantage of a tankless is the small footprint.
Is tankless right for you?
Do you have a lot of people living at your house that use hot water? Do they run out of hot water in the middle of using it? If so, consider a tankless water heater.