STORAGE (TANK) WATER HEATERS

By far the most common type of water heater used — water is kept hot and ready for use at all times in insulated storage tanks. Depending on your needs, a storage water heater may be the best value for your home, especially if you only use a moderate amount of hot water. The average life expectancy of a storage water heater is 8-10 years.

TANKLESS WATER HEATERS

Often called "on demand" water heaters, tankless water heaters only heat water as needed, providing access to a continuous energy-efficient hot water supply. If your home has higher hot water demands — this may be the water heater for you. Although the initial investment is greater, a tankless water heater uses less energy over time while saving space. Plus, the average life expectancy of a tankless water heater is 20 years or more.