The rising cost of utilities can create an unnecessary financial burden on families. When many people think about ways to reduce their utility costs, replacing the water heater may not immediately come to mind. The water heater is usually tucked away in a small closet and is rarely thought about unless access to hot water becomes an issue. However, the hot water heater is a regular consumer of energy in your home. Replacing an older model with a new model can result in lower utility bills.
Fewer Repair Problems
The obvious cost of a damaged water heater is the cost of the plumbing repair service, but there are additional expenses. For example, several types of damage could result in water leaks. This directly inflates utility bills. Some causes of water leaks and related waste include a cracked tank, a leaking or faulty temperature and pressure valve, a damaged drain valve, and more. Sometimes, leaks are minor and are not quickly detected. A water heater could leak for months before the problem is identified and repaired, and this leads to higher utility bills. New water heaters are far less likely to leak as all of the components are new and in great condition.
Greater Energy Efficiency
A typical tank-style water heater has a lifespan of between six and 15 years. The longevity depends on things like how heavily it is used, water quality, and how well you maintain it. Due to advancements, the water heaters available today are far more energy efficient than those available a decade ago or longer. If your home uses an older hot water heater, it may be using more energy than necessary to do its job. By choosing an energy-efficient hot water heater, you can save money each month without adjusting average water consumption. Your water heater installer can help you compare the energy efficiency ratings of different models.
On-Demand Heating
You could also lower utility costs by exchanging your tank-style hot water heater for a tankless model. Tank water heaters maintain a full supply of heated water for you to access when needed. Even if you don’t draw hot water through the pipes for hours or days, a tank water heater will continue to use energy to keep the water hot until you need it. A tankless water heater, on the other hand, does not store heated water. Instead, it has heating coils that warm up the water as you need it. Because the water is heated on demand, substantially less energy is used by a tankless water heater.
The Importance of Professional Hot Water System Repair(Opens in a new browser tab)
Learn More About Water Heater Replacement
While you might be inclined to wait until your current hot water heater completely fails before replacing it, this may not be the most cost-effective option. Your old water heater may be consuming more energy than necessary by the day, which needlessly costs you money. In addition, older water heaters typically have higher repair and maintenance costs than new models. Learn more about water heater replacement and the different models available for your home today.
If you are interested in lowering your home’s utility bills, consider replacing the hot water heater.