These days with all of the new appliances out there, it can be confusing to know what types of water heaters to consider. When shopping for a water heater, it’s helpful to know the upfront investment, long-term cost savings, appliance lifespan, and level of energy efficiency. Here’s a look at the main type of water heater options when you are considering a water heater replacement.
Storage Tank Water Heaters (aka Tank Water Heaters)
Powered by electricity or gas, this is the traditional water heating option. Tank water heaters typically last between 8 to 12 years. Including labor, the cost of a new water heater installation can range from $1,800 to $2,000. In terms of an up-front investment, this is the most affordable of the water heater options.
Tankless Water Heaters
Tankless water heaters provide on-demand hot water rather than storing heated water in a tank. The average lifespan of tankless water heaters – powered either by gas or electricity – is 20 years. Slashed energy costs and a longer lifespan help offset the cost.
Heat Pump (Hybrid) Water Heaters
By using pumps, heat is transferred throughout the home rather than generated directly to heat water. As a result, homeowners can save two to three times as much in energy costs by using a hybrid water heater.
Solar Water Heaters
Solar panels heat the water, which is then stored in a tank for later use. There are two types of solar water heaters – active (using pumps) and passive. Solar water heater installation can save homeowners up to 50% off of their monthly home energy costs.
Trying to decide which types of water heaters are right for you? Contact Mr. Plumber today to learn about water heater units. We offer 0% financing for up to 18 months upon credit approval, with monthly payments as low as $13.