By Seven Weaver Producer
Consumer Reports
When it comes to your gas and electric bill, it might surprise you to learn that up to 30 percent of your money goes to heating your water. That's right!Consumer Reports
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Stumble It!A more energy-efficient tankless water heater can help you get your costs down. Some manufacturers claim you can cut your energy costs by half. Tankless water heaters are more energy-efficient because they don't store hot water. They only heat water when needed. But they're expensive, at $800 to $1,150 vs. $300 to $500 for regular heaters.
With the help of an outside lab, Consumer Reports tested tankless and regular water heaters for both energy use and the cost to operate. Tankless water heaters do have their drawbacks. Some people might think that tankless water heaters provide instantly hot water to the faucet. That is not the case. Another issue is if you only need a trickle of water, say for shaving. The tankless heater's burner might not ignite, and all you'll get is cold water.
Along with a higher price tag, tankless water heaters can be a lot more expensive to install and maintain. According to Consumer Reports' tests, tankless heaters could save you around $70 to $80 per year on your energy bills. But their high cost means it could take you up to 22 years just to break even, and that's not necessarily a big money saver.
If saving energy is important to you, getting a tankless water heater might be worth the expense. You could qualify for utility company rebates and state tax credits with a tankless water heater. You can check the Database of State Incentives for Renewable Energy at www.dsireusa.org.
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Copyright © 2004-2008 Consumers Union of U.S., Inc.
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