Storage tank water heaters are being made to be more efficient than in the past. There are two things to consider when making a decision between a storage unit and a tankless unit. Do you have a problem with not having enough space to fit a storage tank water heater? Also, does your family use large amounts of hot water all at once, such as two adults and three kids all taking showers in the morning from 6:00 AM to 7:00 AM each day? If you answered “yes” to either of these questions, then you may want to consider paying the extra money to install a tankless water heater. However, If you answered “no” to both questions, then, chances are, that you would not benefit from a tankless water heater any more than you would from a storage tank heater and the storage tank costs significantly less to purchase.
When choosing between using a gas water heater or an electric one, consider that the electric tank is more energy efficient than a gas water heater. Also, if your water usage in your home is fairly predictable, the electric water heater can be attached to a timer to save even more money. The bottom line is that electric storage tanks are the most cost effective for the average homeowner.
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