By the year 2026, the water heater market in the United States is expected to reach a valuation of approximately $9.6 billion. It’s obvious that Americans take their hot water very seriously.
Do you need a new water heater for your home? Are you having a hard time deciding between a tank vs tankless water heater?
If this is the case for you, keep reading. Explained below are some key differences between the two to help you decide which is the right option for your home.
Tank Water Heaters
When most people think about a water heater, they envision a tank water heater. These heaters hold several gallons of hot water in a storage tank. They’re quite large and require dedicated storage space in your home (preferably on with a drain close by in the event that a leak occurs.
Tank water heaters are a popular option because they’re easy to install and can be set up within a few hours. They’re more affordable upfront than tankless water heaters, too, which makes them a good choice for folks who are working with a tight budget.
A tank water heater will last between 10 and 15 years on average, as long as it’s well-maintained. This style comes in a variety of models, including electric, propane, and natural gas. Natural gas and propane models are especially popular since they continue working even during power outages.
A potential downside to this type of water heater, though, is that they’re not very energy-efficient. Because they keep the water stored in the tank hot at all times, a lot of power is required for them to continue running properly.
Tankless Water Heaters
A tankless water heater is also known as an on-demand water heater. It features a high-powered burner, which rapidly heats water while it runs through a heat exchanger. This hot water then gets delivered straight to your shower or faucet without having to be stored in a tank.
Tankless water heaters are much more energy-efficient than tank storage heaters, and you can save a lot of money on energy bills when you have one installed. They do cost more money at the beginning, but they cut your costs in a significant way later on. These water heaters also have a longer lifespan, so you’ll be less likely to have to spend a fortune replacing or repairing it over time.
A common complaint about tankless water heaters is that they are more difficult to install on your own. If you work with an installation expert, though, you can overcome this hurdle and start enjoying the benefits of the tankless model sooner.
Tank vs Tankless Water Heater: Which Should You Choose?
As you can see, there are pros and cons to both of these popular water heater types. Now that you have a clearer understanding of the difference between a tank vs tankless water heater, which one seems like a better fit for your home?
Keep this information in mind as you begin shopping. If you need more help purchasing appliances or handling home improvement projects, we have plenty of other resources on our site, too. Head to the “Home” category today to continue learning.