If you have just built a new home, or you need to replace your water heater, you will find you have a few types to choose from. You are probably more familiar with a conventional storage tank water heater. However, tankless water heaters exist as well.

If you would like to know more about tankless water heaters, discover some advantages and disadvantages of this type of water heater.

This type of water heater is sometimes referred to as an on-demand water heater. As the name implies, a tankless water heater does not have a tank in which water gets stored. Instead, tankless water heaters provides hot water on demand when hot water is necessary. Discover the many advantages of a tankless water heater.

Tankless water heaters are much smaller than the storage tank type. An electric tankless water heater measures 10-inches high by 7-inches wide. Gas-powered tankless water heaters measure up to 30-inches high by 20-inches wide.

Because these tankless water heaters are so small and compact, some homeowners mount them on their wall. These water heaters take up much less space than a storage tank water heater. This is especially advantageous for those with small homes or those without a basement or closet, which is where storage tank water heaters are usually.

Energy-efficient appliances usually end up saving homeowners money on their energy bill. This is true of tankless water heaters. In many instances, tankless water heaters are more energy-efficient than storage tank water heaters.

According to the U.S. Department of Energy, tankless water heaters are up to 34 percent more energy-efficient for homeowners who use less than 41 gallons of water a day. For homeowners who use up to 86 gallons of hot water a day, tankless water heaters are up to 14 percent more energy-efficient.

When homeowners install a tankless water heater at each water outlet in their home, it increases energy savings by up to 50 percent.

While many homeowners love the small, compact size of tankless water heaters, along with the energy efficiency they provide, some disadvantages do exist.

These systems need to be sized properly, if not you could experience inadequate hot water supply. They are sized on the gallons per minute (GPM) of water required. If undersized, it could pose a serious problem for family members who need hot water at the same time. One family member may need to take a shower while the other wants to run the dishwasher. The properly sized system produces more gallons of water per minute and can supply enough hot water to the entire home.

Another option is for homeowners to install a single-point unit at each water outlet. For instance, they can install one near the dishwasher, in each bathroom, and the laundry room. Of course, one disadvantage of doing this is that a homeowner needs to purchase more than one tankless water heater.

Many factors also affect the cost of installation. Some of these factors include:

Homeowners should also know that tankless water heaters usually last up to 20 years. Their longer life expectancy means they won't have the added expense of replacing their unit as often as a storage tank water heater, which usually only lasts 8 to 12 years.

When a homeowner tries to determine whether to install a tankless water heater, they need to consider both the advantages and disadvantages. Some homeowners will benefit greatly from installing a tankless water heater. Others may choose to stick with a conventional storage tank water heater.

If you are a homeowner who needs a new water heater, contact Central York Corporation. We install both tankless water heaters and storage tank water heaters. Our HVAC company has served Richmond and Central Virginia since 1968.