Is tankless more expensive?
It is true that there are many tankless systems on the market today that cost as much as several hundred dollars more to install than standard storage systems. Eccotemp systems are designed to deliver the most state of the art technology at a price that ends up costing about the same as a standard storage water heater. Current energy tax credits (found at www.eere.energy.gov) bring these upfront costs down by as much as $300. Water heating is one of the largest consumers of energy in the home. With tankless you only use energy when you need hot water. This savings can be as much as 40% less than a typical storage type heater. Depending on your home, a tankless system can pay for itself within as little as 18 months and continue to save for up to 20 years.
