Sometimes making more money is as simple as giving a little extra. In most residential projects, the contractor can re-value the house to some extent by installing a tankless water heater. Not only does this support a green friendly transition, but it removes the stress of homeowners having to remodel before it even appears.
Gaining support in the industry
Tankless water heaters have been steadily building interest among residential and commercial sectors over the past few years, according to a study by Persistence Market Research. Initially the low capacity level of tankless water heaters hurt their chances of expanding, but recent technological advances across the industry have since changed the perception. Now, the research firm indicated that most have a 3.2 gallon per minute capacity, which both reduces the use of resources and vastly improves on the output of older technology.
The key in reducing the amount of water and electricity wasted lies in the flow switch, which only activates when water runs through it. This cuts down on what prospective residential buyers will have to pay on their bills.
No remodel necessary
Way back in April 2015, the National Appliance Energy Conservation Act updated new regulations for water heaters. Those under 55 gallons have to be made both an additional 2 inches wider and 2 inches taller. If you're a contractor who creates specialized cabinets or hideaways for water heaters when building a residential home, the average space used will now have to change every so often. Save your clients the headache of having to remodel every time the NAECA regulations change – always be ahead of the regulations by installing electric tankless water heaters.
The compact size of the tankless water heater lends itself to multiple placement areas. They are small enough to fit under a sink, in a closet, or anywhere else you need to get hot water to. Their long-term reliability of 20 years, compared to 10 or 15 for other water heaters, lets consumers know that they will not have to worry about an upgrade for quite a while.
Not only is going green great for the environment, but it's a great look for your business. Combining an electric tankless water heater with solar panels leads to a streamlined energy system. Not to mention how much more you can charge for a house that is eco friendly, as opposed to one that isn't,.
"Houses with a green, or eco-friendly, label could command 9% more of its original selling value."
Matthew E. Kahn, an economics professor at the University of California at Berkeley, and Nils Kok of Maastricht University in the Netherlands, currently a visiting scholar at UCLA, conducted a study of 1.6 million homes sold in California between 2007 and 2012, according to the Washington Post. Out of those 1.6 million homes, they pulled together 4,321 that had eco-friendly labels. They found that, given constant variables across the board, houses with a green, or eco-friendly, label could command 9 percent more of their original selling value. This could be the difference between thousands of dollars for both the contractor and the homeowner.
Contractors agree with this sentiment. According to a study done by McGraw Hill Construction, home buyers are willing to pay more for their green-friendly home. An overwhelming 73 percent of single-family builders and 68 percent of multifamily builders acknowledge this. Now that you hold the facts, the decision falls on you – make more money for the same job, or let someone else?