One of the biggest advantages of a tankless water heater is its energy efficiency. Tankless heaters only heat water when it is needed, which means they use less energy overall.
Tank storage water heaters can be installed in a variety of locations in your home, such as a closet or garage, and do not require any special ventilation.
Tankless heaters, on the other hand, need to be installed in a specific location, such as an exterior wall and may require additional venting or electrical work.
Another advantage of a tankless water heater is its longer lifespan. Tankless heaters typically last around 20 years, compared to 10-15 years for tank heaters.
Tankless heaters generally have a higher upfront cost than tank heaters, ranging from $1,000 to $4,500 or more.Tank heaters are typically cheaper, with prices ranging from $1,300 to $2,300.