Know All the Pros and Cons of Tankless Water Heaters

Tankless Water Heater Prices & Installation Costs: Are They Worth It?

Most of the time, you probably don’t give much thought to your water heater. But if your current unit is aging or you’re looking for a more energy-efficient option, a tankless water heater could be the right upgrade.

What Is a Tankless Water Heater?

Unlike traditional storage tanks, on-demand water heaters heat water only when needed, providing hot water without the limitations of a storage tank.

Advantages of a Tankless Water Heater

Here’s why more homeowners are switching to tankless hot water systems:

1. Longer Lifespan & Lower Operating Costs

Built with durable materials, tankless water heaters typically have a longer life expectancy. Many models also have replaceable parts, helping to reduce long-term environmental impact.

2. Endless Hot Water Supply

No more running out of hot water! A tankless system heats water as needed, so you’ll always have hot showers—even during busy mornings.

3. Greater Energy Efficiency

Traditional water heaters constantly heat stored water, wasting energy. Tankless models heat water only when needed, with energy efficiency ratings as high as 0.94 EF, meaning 94% of fuel is used efficiently.

4. Space-Saving Design

Unlike bulky 40- or 60-gallon tanks, a tankless water heater is wall-mounted, freeing up valuable space in your home, cottage, or basement.

5. Reduced Environmental Impact

Tankless heaters use less energy and have replaceable parts, unlike traditional tanks that often need full replacement.

Potential Drawbacks of a Tankless Water Heater

While tankless water heaters offer many benefits, here are a few things to keep in mind:

1. Higher Upfront Installation Costs

With a switch in any technology, you may pay some initial upfront costs to get a tankless water heater, both for the water heater itself and for the installation. Modern water heaters often need updated venting and gas lines. However, the additional costs could begin to be recovered after installation and over the long term, with potential energy savings from not constantly re-heating water in a tank or replacing them as often.

2. Limited Hot Water Output for Large Homes

If multiple appliances are using hot water simultaneously, a single tankless unit may struggle to keep up. Some homeowners install multiple units or choose a recirculating system to improve efficiency.

Should You Rent or Buy a Tankless Water Heater?

Deciding between renting or buying? Here’s what to consider:

• Buying: Requires upfront costs but eliminates rental fees. Owners are responsible for maintenance and repairs.
• Renting with Reliance®: Includes free standard installation and long-term protection, all for an affordable monthly fee.

Ready to make the switch? Explore our tankless water heater options today!