According to energy research done by energy gov if you are using a 40 gallon tank of hot water or less your energy demand is typically less than 50 percent with a tankless water heater compared to a water heater tank.
Tankless water heater vs hot water tank.
Otherwise installing a tankless water heater that is used only for one appliance is another solution.
The main difference between tankless water heaters and hot water tanks is that tankless models only use energy when you turn on the tap.
The operational life of a tankless water heater is usually 20 years if not more.
Hot water tank pros.
If you are replacing a hot water tank with another hot water tank it s usually a fairly inexpensive installation.
You aren t paying to store a huge tank of water while you re away at work or at night when you re sleeping.
Tankless water heaters do cost more than water tanks but you do get these advantages.
If you use lots of hot water daily around 86 gallons you might enjoy energy efficiency of an additional 8 to 14 percent.
Tankless water heaters reduce energy use up to 25 but they cost twice as much as standard storage units.
For a tank based traditional hot water system the lifespan is usually 10 years.
Cost and process of installing a tankless vs hot water tank.
Homeowners with on demand tankless water heaters that use less than 41 gallons or less of hot water each day enjoy between 24 and 34 percent more energy efficiency than storage tank water heaters.
The cost of a hot water tank is about 60 less than than of a tankless heater.