There are many reasons for using a tankless water heater to save money. In this article, we are trying to describe those reasons for answering this question: How do tankless water heaters save money? We found these money-saving features in tankless water heaters by comparing all models of different brands. Tankless water heaters are also known as on-demand water heaters.
Let’s have a look at how tankless water saves money:
Give On-demand hot water
You can easily compare a traditional tanked and tankless water heater. You will see that tankless water provides hot water as needed, whereas a traditional tanked water heater stores water and keeps heating it all day long. On the other hand, a tank-less water heater does not store water; it provides hot water when you turn on your faucet; that’s why it is known as an on-demand water heater. That is another compelling reason to save your money.
A standard home needs 41 gallons or less of hot water daily. Just think about that if a traditional tanked water heater keeps heating this amount of gallons all day long. As a result, it consumes a great deal of energy. On the other hand, on-demand top tankless water heaters provide this amount when you need it. So, the tankless unit can save energy 24 to 34 percent compared to the traditional tanked water heater.
Every tankless water heater unit comes with a longer life warranty than a traditional tanked water heater. A tankless water heater may be more expensive than a tanked water heater. But dear, each model of the tankless unit comes with a minimum of 15 to 20 years of warranty with heat exchanger replacement. At the same time, we have found some models with a lifetime warranty period. The warranty period for traditional tanked water heaters, on the other hand, is only 5 to 10 years.
Avoid standby heat loss
This is another reason behind saving money for home and industrial use of a tankless water heater. As we said before, it can provide on-demand hot water, so it does not consume energy when it is in standby mode. Alternatively, a tanked water heater consumes energy while it is in standby mode since it stores water and keeps heating the water all day long or until you switch off the whole unit.
How to Condense Hot Water Consumption for Energy Savings? An Essential question for homeowner water heater users. If you want to produce hot water, you need to use energy, so both are interlinked. Because to run a water heater, whether it is a tank or tankless water heater, you need to use either electricity or gas. Resulting, if you produce more hot water, more energy is required, and as we know, more energy consumption causes more utility bills. So, if you save hot water, you can quickly reduce your energy bills. Now the question is how you can keep hot water. In that circumstance, you can install a tankless water heater like a Takagi tankless water heater or any other model with on-demand hot water supply features.
So there is no possibility of wasting hot water, and you can save water heating bills by using less hot water. As per research, the water heating bill is the second most significant cost, 14 to 18 percent of household utility bills. Thus, the only way to save hot water is to install an energy-efficient tankless water heater with low-flow fixtures, an efficient dishwasher and clothes washer, a high-tech showerhead, and one that does not leak.
Methods of Water Heating and Costs
Traditional Water Heater
It uses a water reserve method to heat water in a traditional storage-tank water heater. Every time it boils water, it costs about $800. It consumes energy continuously, which results in a higher price.
Tankless Water Heater
Without using a storage tank, a tankless water heater heats water directly based on your requirements. These tankless water heater models are 8 to 34 percent energy-efficient than a traditional water heater. Based on each model’s features, this tankless water heater price starts from 100$ and goes up to 1500$. At the same time, installing these tankless water heaters is a bit technical compared to the traditional storage water heater.
Solar Water Heater
These types of water heaters use solar power to produce hot water. These renewable power water heaters help to save energy more than anything. The most important thing is that these types of solar water heaters emit almost zero greenhouse gases which are environment-friendly also. But these sorts of water heater installation and panel costs are high, and the price ranges from 3000 $ to 5000 $.
Heat Pump Water Heater
These water heaters capture heat from the air and transfer heat to the water tank. This heat pump water heater can save up to 40 percent more energy costs than other electric water heaters. The problem with these water heaters is that they cannot be used in cold weather because they require 40 to 90-degree air temperatures to function. The cost of this water is also a bit high, and its available content varies from $1500 to $2500.
Condensing Water Heater
These condensing water heaters are like tank-type water heaters but use exhaust gases that generally go out by the duct. This kind of water heater is suitable for those families who need a large capacity water heater which means they need more than 55 gallons. The cost varies from 500 to 2000 dollars to install these condensing water heaters.
How much energy does this sort of water heater use?
Research shows that about 20 percent of the energy bill or a quarter of the fuel bill is used for boiling water if the water heater capacity is less than 55 gallons. The 4 percent efficiency boost, on the other hand, and the more powerful above 55 gallons capacity water heater consumed about 25 to 50 percent of utility bills based on the technology you used.
Install a low flow fixtures water heater
As per the Federal Regulations Mandate, we have seen that the flow rate of new showerheads did not exceed 2.5 gallons per minute at the water pressure of 80 PSI. Install low-flow fixtures and a tankless water heater, and you can save 25 to 60% on hot water.
To install showerheads, you can find two types of showerheads, and these are:
- Aerator Showerheads: You can mix air with water and form misty spray showerheads for dry climates. In a marketplace like Amazon, you can easily find these Aerator Showerheads.
- Showerheads with Laminar Flow: For humid climates, these Laminar flow showerheads are better than other models. But if you compare both the aerator showerhead and laminar showerhead, the aerator saves more water than laminar flow showerheads, so the aerator is more energy-efficient than Laminar.
Time of Shower
Taking a shower then taking a bath is always helpful in saving more hot water and ultimately lowering the use of hot water to save energy.
It is very significant to know that gas-powered tankless water heaters are 40 percent more energy efficient than an electric-powered tankless water heater. In that circumstance, you can use the Takagi gas tankless water heater to reduce your utility consumption bills.
Use of the Right Faucets
Using a newer version faucet than an older version is another way to get more efficient. At the same time, if you think that replacing an old faucet with a newly installed faucet is expensive, the answer is NO, dear. By spending $10 to $20, you can easily exchange them. On the other hand, as per the Department of Energy of the US, a new kitchen faucet can restrict flow rates up to 2.2 GPM, and a modern bathroom faucet can determine flow rates to 1.5 to 0.5 GPM.
In the beginning, our team of experts asks you a question about washing a dish in the dishwasher in the water heater market; there are two types; compact and standard. Based on all the facts of the two types, we’ve found that technically, the compact design dishwasher is more energy-efficient. If you use a less common dishwasher, you have to use it more frequently than others, resulting in more use cases for more water and energy costs.
At the same time, the dishwasher with booster features saves more energy than a normal one. For its energy efficiency, this type of dishwasher has a higher initial investment than any regular dishwasher. Still, in the long run, you will see a return on your investment within one year since it features water temperatures up to 140 degrees Fahrenheit for optimal use.
Another energy-efficient dishwasher is one with a shorter cycle. A shorter cycle dishwasher uses less water than any other model. For a long time, it saves energy and reduces your utility bills. But before choosing your one, make sure that it has the certification from Energy Star, which ensures that it saves 31 percent energy and 33 percent water. That also affects your energy cost.
Fix All Leaks
It’s known that continuous tiny drops of water will create a sea. For example, a drip per second does not seem like too much, but it will be 60 drips in a minute. In a day, it wills 8.64 gallons, and in a year, it stands on 3,153 gallons of water. If you calculate 3153 gallons in monetary terms, it will cost you approximately $35 per year. Make sure to fix your water pipe leaks today or switch to a new one.
Our team of experts is confident about that. If you thoroughly follow these steps or research whatever you say, you can quickly reduce your energy consumption bills at the end of the month. We are grateful to answer this question, How to Condense Hot Water Consumption for Energy Savings? After researching on the web and real-life homeowner experiences.
By the end of this article, we can say that we hope you understand why experts claim the foremost tankless water heater is an energy-saving unit, which makes it the best water heater device on the market. So without any doubt, you can buy a tankless water heater, whatever it is, an outdoor unit.