We’ve all heard that switching from a hot water tank to a tankless water heater will save you money on energy costs over time. Of course, these cost savings usually come with a lot of up-front cost. Thankfully, we’ve reviewed the best tankless water heaters in terms of price, that are still of high quality yet won’t break the bank. In fact, they will pad the bank over time. We hope that our list will help you make a successful upgrade to a tankless water heater without blasting money on the premium brands.
Best Value – Takagi Tankless Water Heater
Takagi makes the most powerful tankless water heaters for the most affordable prices. In fact, their flow rate, in terms of GPM, often exceeds the competitive models from Rheem and Rinnai. This Takagi model boasts a massive 10 GPM, which for some context is able to power up to 3 full flow shower heads at the same time. If taking 3 showers isn’t required, you can also take a shower, run your dishwaster and run your washing machine, all without ever running out of hot water! Backed by both an industry leading warranty and hundreds of positive reviews, we think going with the Takagi is a great choice for you.
Best Price – Titan Electric Water Heater
If you aren’t up for buying a huge natural gas unit from Takagi with 10 GPM, you can get yourself a much cheaper tankless water heater in the Titan Electric Tankless. Another mostly unkonwn brand, it is backed also by a huge base of positive reviews on amazon as well as an industry leading warranty. As with many “unknown brands”, they have higher flow rates for a cheaper price than the premium brand models, even if the quality appears to be the same. The draw back is that this unit is not very visually appealing, but if it’s tucked away out of sight, who cares? We highly recommend the Titan Electric Water Heater to anyone who has modest GPM needs and is looking for the electric tankless water heater.
Best in Outdoor – Rheem Outdoor Tankless Water Heater
While Rheem is known for being a premium brand, we are surprised to see how affordable and how high quality their outdoor tankless water heaters are. In fact, we find that the outdoor models are somehow cheaper than the the indoor tankless heaters. How this came to be, we’re not sure, but as a consumer we welcome it. According to the iWP Foundation, The Rheem outdoor tankless water heater boasts 7.5 GPM, 96% efficiency and thermally rated for temperatures of -30F, which is good enough for most homes across Canada and The United States. If it’s outdoor tankless water heaters you seek, and a limited budget, you can always count of the quality and customer support of Rheem.