If you’re one of the many people who are considering water heater replacement, you should know that changing your water heater is a big decision. The good news is that it doesn’t need to be an expensive decision. In fact, there are a lot of ways you can save money on buying a new water heater!
But before we get into how to save money on your next water heater, let’s take a quick look at what factors affect the cost and lifespan of your new one. From tank size to energy efficiency technology, there’s no shortage of options when it comes time for replacing your old water heater.
Tank size: The larger the tank, the more water it can hold at a time. That means your family doesn’t have to run out for extra water to get your wash done or take a quick shower every half hour. But, bigger isn’t necessarily better. Tanks that are too big will require more energy – and money – to heat up.
Energy efficiency: Energy efficient water heaters use less energy than those with older technology and therefore cost less to operate. This means you can expect lower utility bills than you would with an older model that uses more energy from the start.
Energy efficiency is a big factor when making the decision about what size tank you need. It can save you up to 50% on your water heating costs.
Water flow: The water flow of your water heater is measured in gallons per minute (GPM). Higher GPMs provide more hot water at a faster rate, but at the expense of energy use and increased maintenance costs. Energy efficient water heaters usually have a lower GPM than older models because they use less energy in the first place.
The best way to determine which type of technology will suit your needs is by measuring how much hot water you use each day and how much energy that requires.
