How can I save money with a tankless water heater?
A conventional storage water heater accounts for up to 30% of the average home’s energy costs. That is not a small amount of change. The EERE’s tankless water heater consumer guide reports that “for homes that use 41 gallons or less of hot water daily, on-demand water heaters can be 24% to 30% more energy efficient than conventional storage tanks water heaters. They can be 8% to 14% more energy efficient for homes that use a lot of hot water — around 86 gallons per day. You can achieve an even greater energy savings of 27% to 50% if you install a demand water heater at each hot water outlet.” Less energy used translates to lower electricity bills, which translates to more money in your pocket. Even better, a tankless water heater can save you money right off the bat through a $300 federal tax credit.
