Tank vs. Tankless Water Heaters

water heater repair

Which water heater works best for your property? 

Trying to figure that out can be a daunting task, especially when you’re unsure of the advantages and disadvantages of each one. Tank and tankless water heaters, for example, offer numerous benefits for different industries and property types, but they both come with their share of cons. Whether it be for longevity, cost-effectiveness, or energy savings, it’s important to ensure that your water heater is properly functioning and suited for you.

Pros and cons: tank water heaters

There are varying opinions on tank versus tankless water heaters depending on what you’re looking for and who you speak to. Tank water heaters are most known for being the tried-and-true water heating system – not only are they reliable and easy to install, they also have an affordable upfront cost, with the average industry cost for a 40 to 50-gallon tank at about $900. The large size of tank water heaters allows for between 20 to 80 gallons of hot water storage, but this is often considered a drawback as they require so much space.

This means that if the tank has been emptied, you’ll need to wait until your water heater produces more hot water, which could take some time due to its size. As well, keeping a tank full of hot water at all times can lead to significant energy waste, resulting in about 35 to 40 percent less energy savings compared to a tankless water heater. It’s also important to note that tank water heaters typically have a shorter lifespan, and in the case of a malfunction, gallons of water could leak from the tank.

Pros and cons: tankless water heaters

Unlike the tank heater, tankless water heaters are known for their efficiency and for taking up less space. Those with this water heater can expect up to $1,800 worth of energy savings throughout the equipment’s lifetime, plus the savings from not having to keep a large tank full of hot water on site. They also have an increased life expectancy of 20+ years – 5 to 10 more years than the former – and a decreased risk of leaking or exploding, which saves a headache for property managers.

Even then, the advantages of tankless water heaters come with a cost. The typical tankless water heater and installation runs for around $3,000, which is about triple the price of a tank water heater. Not only that, the installation process isn’t as simple as compared to a storage tank as it can require changes to the property to accommodate the unit. Another disadvantage is they also take longer to generate and deliver hot water, resulting in inconsistent water temperature especially when several taps, appliances, and showers are being used at the same time.

Which industries benefit from which type?

Because of their size, energy efficiency, and overall cost savings, tankless water heaters are great for single homes and industrial properties. Tank water heaters on the other hand are optimal for larger homes and commercial facilities; not only can they provide water to multiple faucets or appliances all at once without a change in temperature, their significantly larger size also allows them to hold more gallons.

That said, both water heating systems can be beneficial to any property owner – it just all depends on your budget, space, location, and consumption.

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