Tank Water Heaters
Tank-type water heaters have a typical life expectancy of 10 years and a standard warranty of only 6 years. With the hardness of our local water, oftentimes, we end up replacing many tanks before they reach life expectancy or while their still under warranty.
Most tanks have an operating efficiency of around 60%, which basically means that for every dollar you spend towards heating your water, 40 cents goes out the roof through the vent.
Tanks, however, do store hot water, so in the event of a gas loss, you would potentially still have one full tank of hot water.
Tankless Water Heaters
Besides the obvious benefit of having access to endless hot water, Tankless heaters are on-demand, meaning unless you’re using hot water, you’re not wasting any energy.
They are 97-99% efficient meaning your dollars are being utilized to heat water, not blow hot air! According to energy.gov, they have a typical life expectancy of 20 years. The heat exchanger has a 15-year warranty as opposed to the 6 with a tank.
Based upon these statistics, it is extremely likely that you’d buy at least 2- tank-type heaters during the life expectancy of 1- tankless and possibly even three! They’re also a great space saver, often opening up closets and storage space that you never knew you had!