Rent A Traditional Water Heater Or Own A Tankless?
Owning a tankless water heater may be a more cost-effective choice.
We take our hot water heaters for granted.
Other than enjoying the perks when we need them - hot showers, warm baths, good water for dishwashing - we don't really give them much thought, unless they break.
Plus, renting always seems like the smarter option for saving money, so it's easy to set and forget once the contract is signed.
But there are plenty of reasons to give thought to the benefits of buying - long-term advantages like:
- Saved money
- Saved energy
- Saved space
- Saved stress
Oh, and of course: endless hot water, whenever you want it.
Who can say no to that in the midst of a crisp, cold Canadian winter?
Water heating costs of $2,300.
According to energystar.gov, by going tankless your annual water heating bill will be $120 CAD* less on average than a gas storage water heater.
That works out to a whopping $2,300 CAD* over a tankless water heater’s lifetime for a family of four! *Amount converted into Canadian dollars.
Use less energy and save more money.
A tankless water heater is 24-34% more efficient for homes that use 41 gallons or less of hot water daily, according to energy.gov.
For homes using 86 gallons of hot water a day, a tankless water heater is cited as being 8-14% more efficient than a conventional water heater.
As a result of its lower energy usage, a tankless water heater has a smaller ecological footprint. And such energy efficiency lowers the cost of your utility bill.
Unlike a hot water tank that stores hot water in its tank until it’s needed, a tankless—or on-demand—water heater doesn’t store water in its tank. A tankless system only heats water as it’s needed. This is reason why tankless water heaters are so energy efficient.
Hot water on demand 24/7.
Tankless water heaters are known for providing endless, consecutive hot water to busy homes. Whether this be for a shower, a dishwasher, or washing machine. You can count on a steady supply of hot water on which your family can depend.
This means you will no longer have to suffer from consecutive cold showers.
Compact size for more efficient living space.
An on-demand water heater—also called tankless—is small: only about the size of an airplane carry-on bag. It can hang on the wall, not taking up any precious floor space.
A traditional water heater, on the other hand, is a monster: measuring in at about 5’ high and 2’ wide. It holds 40 to 60 gallons of water at all times, after all!
Tankless has a longer lifespan.
Did you know that on average, a tankless water heater has double the lifespan of a conventional hot water tank?
This long-lasting workhorse is an excellent investment that will be an asset to your household for decades to come.