When it comes to choosing a new water heater, you may be wondering whether a tankless or tank-type model is the better choice for your home. Both options have their advantages and disadvantages, so it’s important to consider your specific needs and budget before making a decision. In this article, we’ll explore the pros and cons of each type and provide estimates for the installed costs of each option.
Tank-Type Water Heaters
Pros:
Lower upfront cost: Tank-type water heaters are typically less expensive to purchase and install than tankless models.
Simpler installation: Because they have a similar design to older models, tank-type water heaters are easier to install and repair.
Familiar technology: Most people are familiar with tank-type water heaters, so they may feel more comfortable with this option.
Cons:
Higher energy costs: Because they keep a large tank of water heated at all times, tank-type water heaters can be less energy-efficient than tankless models.
Limited hot water supply: Once the tank is emptied, you’ll need to wait for it to refill and reheat before you can use hot water again.
Shorter lifespan: Tank-type water heaters typically last between 8 and 12 years, compared to 15 to 20 years for tankless models.
Installed Cost:
For homeowners in the Long Island, NY area, the installed cost of a tank-type water heater from Gold Star Plumbing, Heating & Cooling can range from $2,000 to $7,500+, including the cost of the unit itself, installation labor, any necessary permits, inspections and depending on the size and features of the unit.
Tankless Water Heaters
Pros:
Energy savings: Because they only heat water on demand, tankless water heaters can be much more energy-efficient than tank-type models.
Unlimited hot water supply: Tankless water heaters can provide hot water continuously, without the need to wait for a tank to refill and reheat.
Longer lifespan: Tankless water heaters typically last between 15 and 20 years, compared to 8 to 12 years for tank-type models.
Cons:
Higher upfront cost: Tankless water heaters are generally more expensive to purchase and install than tank-type models.
More complex installation: Tankless water heaters require additional installation requirements, such as upgrading electrical or gas lines, that can increase the cost and complexity of installation.
Less familiar technology: Some people may not be as familiar with tankless water heaters and may have questions or concerns about how they work.
Installed Cost:
For homeowners in the Long Island, NY area, the installed cost of a tankless water heater from Gold Star Plumbing, Heating & Cooling can range from $4,500 to $9,000+, including the cost of the unit itself, installation labor, and any necessary permits, inspections and depending on the size and features of the unit.
Conclusion:
Deciding between a tankless or tank-type water heater depends on your specific needs and budget. If you’re looking for a more familiar technology and a lower initial investment, a tank-type water heater may be the better option. If you value energy efficiency and a longer lifespan, a tankless water heater may be the right choice for you, despite the higher upfront cost. Remember to research different brands and models and get an estimate from a trusted plumbing and HVAC company like Gold Star Plumbing, Heating & Cooling.
