Ensuring your home is more energy efficient is an excellent initiative that many homeowners seek these days. Energy efficiency not only helps the environment, but you can also significantly lower your gas and electric bills at the same time. It’s no secret than energy-efficient appliances are a costly investment up front, but they can double your month-to-month savings. According to Energy Star, 14 percent of your monthly bills come from the water heater, making it the biggest expense in the household besides heating and cooling.
What Do They Cost?
Initially, the cost of a tankless water heater unit and professional installation can be overwhelming to many. A tankless water heater certainly does cost more than a traditional water. Where a conventional water heater will cost around $500, the tankless model could surpass $1200. The upfront cost makes the purchasing decision a bit troublesome, at first.
How Much Does It Save Me?
The savings, however, is where the decision-making process becomes easier. According to Energy Star, a tankless water heater can save your home nearly $100 or more per year on monthly utility bills. To successfully estimate your savings, it’s important to factor in the amount of water your family uses on a regular basis. If you have a large family, you may use more water, and your savings could be higher than those living on their own or using less water overall.
The bottom line is that you’ll end up saving money each month and recuperating your initial investment in just a few years. Furthermore, the need for a replacement is minimal. Tankless water heater models tend to be more efficient, require less maintenance, and break down less often.
If you have any questions regarding tankless water heaters or how they may benefit you, contact Dutton Plumbing today. We’re happy to answer any questions or concerns you may have!