1. Choose Energy-Efficient Models
When upgrading to a tankless water heater, it’s crucial to choose an energy-efficient model. Energy Star certified tankless water heaters can save a household approximately $100 per year compared to a standard model. These models are designed to use less energy, which not only reduces your carbon footprint but also lowers your utility bills.
2. Opt for a Correctly Sized Unit
Size matters when it comes to tankless water heaters. A unit that’s too small won’t be able to meet your household’s hot water demands, while a unit that’s too large will consume more energy than necessary. By choosing a correctly sized unit, you can avoid these issues and save money in the long run.
3. Install in a Central Location
Installing your tankless water heater in a central location can help reduce heat loss and improve efficiency. The closer the heater is to the point of use, the less time it takes for hot water to reach the faucet, which can result in significant energy savings.
4. Regular Maintenance
Regular maintenance is key to ensuring your tankless water heater operates efficiently. This includes descaling the unit to remove mineral buildup, checking for leaks, and inspecting the venting system. Regular maintenance can extend the lifespan of your unit and prevent costly repairs down the line.
5. Take Advantage of Rebates and Incentives
Many utility companies and local governments offer rebates and incentives for homeowners who upgrade to energy-efficient appliances, including tankless water heaters. These programs can help offset the initial cost of the unit and make the upgrade more affordable.
6. Use Less Hot Water
One of the simplest ways to save on your tankless water heater upgrade is to use less hot water. This can be achieved by installing low-flow showerheads and faucets, washing clothes in cold water, and only running the dishwasher when it’s full.
7. Insulate Hot Water Pipes
Insulating your hot water pipes can reduce heat loss and help your tankless water heater operate more efficiently. This is a relatively inexpensive upgrade that can result in significant energy savings over time.
Related Saving Tips
In conclusion, upgrading to a tankless water heater can be a significant investment, but there are many ways to save money both in the short term and over the life of the unit. By choosing an energy-efficient model, installing it in a central location, performing regular maintenance, taking advantage of rebates and incentives, using less hot water, and insulating your hot water pipes, you can maximize your savings and make the most of your upgrade.