Conventional and Tankless Water Heaters: Cost Comparison

Conventional Tank Water HeaterThere are two types of water heater models that can heat the water needed for your Minneapolis home. Both tankless and conventional water heaters get the job done, and each have their own distinct advantages and differing costs, both initially as well as over time. Our Minneapolis plumbers at Benjamin Franklin Plumbing of Minneapolis offer this cost comparison of conventional and tankless water heaters so that you can make an informed decision when it comes time to choose between the two.

Initial Advantages of Tankless Water Heaters

As soon as a new tankless water heater is installed, the whole family can enjoy its benefits. These systems are referred to as instantaneous water heaters because water is heated within seconds of turning on the hot water spigot. They are generally a preferred model because a basically endless supply of hot water can be supplied by the system.

Best of all for homeowners, because the system does not constantly have to maintain a supply of hot water, your monthly electricity bill will decrease over time. Just think of what else you could spend that savings on in your home—the possibilities are endless!

Tankless Water Heaters

Advantages of Instant Water Heaters Over Time

Although a tankless system costs several hundred more dollars to purchase and install than a conventional water heating system, it will cost less to operate over time. Most systems have a payback of two to four years for just the heater, or 12 to 14 years when the cost of installation is added to the cost of the heater. Because tankless water heating systems have a life expectancy that averages 15 years or longer, this means that owners will save money over the lifetime of the installation of a tankless system.

Our Experts Can Help

As your Minneapolis plumbers, our team at Benjamin Franklin Plumbing of Minneapolis has been helping homeowners select the best water heaters for their needs for many years. Our experienced plumbers take the time to explain the costs and advantages of each type of system and answer all of your questions.

With years of experience installing tankless and conventional water heaters, we offer customer service that is second to none. Call us today at 952-933-8888 for more information or to schedule your water heater installation.

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