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The DOE computes average annual operating costs of $388 for a storage-tank heater, and $272 for a tankless heater. That's $116 less. If the tankless system costs $2,200 installed, and saves $116 a year, it would take about 19 years to break even on the investment.ost homes have a storage tank for hot water â 50 gallons or more that's regularly reheated and ready to use 24 hours a day. The compact alternative, often billed as the more efficient European system, is a tankless, or on-demand water heater.
How long do tankless water heaters last? Tankless water heaters typically last 15 to 20 years, compared to 10 years or less for a tank-type water heater.If there are very hard water conditions, water treatment will be important in maintaining the life of the water heater.ow long do tankless water heaters last? Tankless water heaters typically last 15 to 20 years, compared to 10 years or less for a tank-type water heater.