WARNING: A Tankless Water Heater can save you serious money...
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An office mate showed me the light. When he heard me talking about water heaters on the phone, he pulled up www.tanklesswaterheaters.com and tapped me on the shoulder. Five minutes later, I was saying, “Why don't we all have one of these?”
I'm talking about tankless water heaters, the use-it-as-you-go approach to hot water. It's been popular in Europe and Japan for decades, but we're just catching on over here. They're energy-efficient, they don't waste water, and they take up a lot less space.
While regular water heaters hold gallons of water in reserve, heating it and reheating it around the clock, a tankless one doesn't store any water at all. When you turn on, say, the shower faucet, the water flows through the water heater, warming up quickly as it goes through a series of hot metal coils. And during all those hours every day when you aren't showering or washing clothes, the water heater doesn't use energy maintaining all those gallons of water.
There are drawbacks, of course. If you have a house full of people and you need to use the shower and the washer at the same time, a regular-sized tankless heater can't keep up. And tankless water heaters tend to cost more at first; many are in the $500 to $600 range, and the high-volume ones (which let you use two showers at once) can cost nearly $1,000. Of course, you save money on gas or electricity with a tankless heater.
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