- 1). Gather your energy bills for the last year and look at your energy usage. Assess how much you have been spending in energy costs before installating your tankless hot water heater. This will allow you to calculate the amount of energy--and the amount of money--you are saving.
- 2). Have your water tested for hardness, iron and dissolved minerals. These contaminants can significantly shorten the life of any hot water heater, including tankless varieties. Tankless hot water heaters can be expensive to purchase so it is important to protect them and help them last.
- 3). Install a water softener if you find your water is hard or if it contains iron or dissolved minerals. Installing a water softener will help your tankless heater last longer and run more efficiently.
- 4). Choose a tankless hot water heater that is properly sized for your home. If your home is small, you can probably install the smallest tankless heater on the market. If you have a large home with multiple bathrooms, you should look at a larger tankless unit. It is best to err on the side of a larger heater if you are not sure what size to use.
- 5). Calculate your energy savings by comparing your first energy bill after the tankless water heater has been installed to the average monthly cost before you bought the heater.
- 6). Don't forget to apply for any federal and state tax credits you may be eligible for. Be sure to keep your receipts and purchase records, then give them to your tax preparer or CPA when tax season rolls around. Depending on your tax bracket and the type of heater you buy, you may be able to recoup a good portion of the cost of your tankless hot water heater.
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