The reason a lot of people brighten up when considering tankless hot water heater units is because it's more economical to run. Believe it or not, there's anywhere from a 20% to 50% energy savings due to the lower operating costs. You will discover this type of unit can reduce your energy consumption by 20 to 50%, which will be all based on how much water you use per day and the layout of your house to name a couple factors
The key is to examine the lifespan of the unit and what it'll do for you in the long run, while a tankless unit initially costs a lot more than a conventional component. Water heaters with a tank are going to continue about six years while the lifespan of a tankless can be just as much as 18 years. The small additional cost is worth it if you add in the possible tax credits, rebates and energy economies.
Not only is a tankless unit going to continue a longer, but it is going to be more energy efficient. And should the unit ever break it down is not going to flood your home like a tank water heater. Because minerals build up in the water storage tank conventional units lose efficacy over time. These minerals then bake onto the interior parts of the water storage tank. In a tank thus removing any mineral problems, no water is kept with tankless hot water heater units.