Traditional water storage tanks can be wasteful and inefficient making them an outdated and unattractive choice when it comes to residential water heating needs. This is making consumers and contractors re-examine their water heating options causing a growing trend towards condensing tankless heating when looking at all the benefits they “bring to the tub.”
By Jeremy Allfrey and the A to Z Sales Team
The best way to examine all of the benefits of going tankless is to break down their features along with their added value over time. Lets start with long term value awareness, initiatives by local governments, and high efficiency acting as the primary reasons that North America is expected to take over more than 45% market share of the global tankless water heater market by the end of 2024. It’s common knowledge that tankless have already been leading the market in the European and the Asia Pacific regions, and as the technology gets better and awareness grows, demand will increase providing a new opportunity for wholesale distributors to enter a rapidly growing and competitive market place in North America.
More and more, high energy efficiency is becoming a more important factor when making a purchase decision for many households. Tankless typically uses 30% to 40% less energy than tank units and can save a family $100 or more per year depending on usage by eliminating the cost of constantly trying to keep 40 to 50 gallons of water hot. This is because condensing gas heaters can extract up to 96% of a fuel’s heat thanks to a second heat exchanger that captures heat before it escapes.
Technology in tankless is also advancing thanks to the Internet of Things (IoT), which adds a new level of connectivity, and built in recirculating pumps that provide near instant hot water, no matter the groundwater temperature. IoT connectivity through apps can notify the homeowner or contractor if there is a problem or the unit needs maintenance. Plus these apps can also let homeowners adjust the temperature, monitor gas and water usage, and notify when it’s time to descale.
While some tankless may be more expensive than traditional tank water heaters, tankless can make up for the cost with long term savings on utilities and sometimes with rebates. Tankless are often certified by the Energy Star program because they are so efficient which means they are also often eligible for utility rebates. You can use this site to input your zipcode to see if your area qualifies. Gas burning tankless heaters can actually operate for 20 years or more, which is typically longer than tank-types. Plus with proper maintenance and a longer service life, it means less replacement costs for homeowners.
All of these factors: endless hot water, high efficiency, space, cost, new technology, are fueling the growth of the tankless water heating market. The global residential end use segment expected to remain dominant and anticipated to account for 70.5 percent share by the end of 2024.
We at A to Z sales & Marketing recommend Vesta for condensing tankless water heating needs. A VRP model has a max BTU of 199,000, 10.8GM flow rate and has a 15 year warranty. Vesta has many of the same specifications as competitors, but their customer service and dedication to building relationships with wholesalers and contractors makes them a prime choice when it comes to tankless. Our experience with wholesalers is that time spent with Vesta’s products often leads to believers in tankless technology.