Eco-enthusiasts who wish to “go green” sometimes believe the high-price is a worthwhile trade for the sake of saving money and energy in the long-run. Unfortunately with these units, that is not the likely case. Tankless units do not save enough money or energy worth mentioning. The margins are so fuzzy and miniscule that the high price paid is NEVER worth it. Sad, I know; but true non-the-less. If you truly wish to “Go Green” on a large scale, consider investing that money into insulating your home or installing better windows. Planting more trees around your home is another fantastic and effectual Eco-friendly project to invest in. These ideas will certainly render more savings than tankless water heaters.
Numbers Don’t Lie – Consumer Reports 2008 Information and Statistics for Tankless Water Heaters
• Break-even point after purchasing a tankless water heater comes 22 years later.
• Add on the monthly de-scaling costs of $300 and money is actually lost.
• Hefty maintenance costs – $3000 over a ten year period.
• Heating coils must be professionally serviced and cleaned routinely to evade lime and sediment buildup. If lime is present on heat coils, warranty is VOID.
• De-liming services run $300, and the warranties mandate this service TWICE a year in order for the warranty to remain active. Does that sound economical?
• To own a tankless unit, one must also purchase a water conditioning system or water softener. This reduces lime and scale in the water that can damage a tankless water heater and render the warranty void. This is an additional $2000 cost, at least.
• Many models have been discontinued, leaving older units without replacement parts. A 10-15 year old tankless water heater part can be almost impossible to locate because the company is out of business or the model is no longer manufactured. If a part is found, it can be equally difficult finding a repairman that knows how to facilitate the service.
• Large tax credits are now a fantasy. They DO NOT EXIST anymore. A homeowner may receive up to $500 off their taxes; that is of course, one year later and after the initial $4000 purchase. Ask yourself, “Is that really worth it?”
Tankless Water Heater Customer Reviews:
Information Provided By Mark Weilhammer, Master Plumber and Owner of Weilhammer Plumbing Company in Indianapolis, Indiana.