I actually thought about it (still not excluding it). it is just the price is insane. like $1500-$2500 plus installation.
I don't know why the price is this high. Back in Asia, leading brands such as Rinnai is sold at $300-400...
I had an HVAC guy at hockey who couldn't understand why I would not go tankless. He said I just lose heat with the tank. I said I didn't use enough water to justify the cost and of course he said tankless was even better for me. My argument as a low water user is say I use $200 a year and save 50% so now it cost me $100, a saving of only $100 a year, so it takes 35 years to pay the capital cost. A high volume user might save $250 so gets his payback much quicker. I assume their are numbers some where that compare a typical tank setup against a tankless. Unless of course, they would show that a tankless never really pays for itself over it's life expectancy.
the issue is the cost of ownership... Tankless come in 80% and 90%plus condensing units. Thing is if we talk rental rates its 10$ for a conventional, 22$ for a powervent(same eff as conventional) $35 for tankless and 45$ for high efficiency tank.... You soon see that you increased rental rates are higher then any efficiency savings you will get. The spread for purchasing is similar. 600-800conv 1500 powervent, 2500ish tankless upwards of 3500$ and high eff tank in the 3000-4000$ range(total ball park here guys i dont sell em i fix em)
My tanless opinion when people ask: IF you want to be green and dont mind paying extra go for it. IF you have a need for back to back to back showers around the clock or have 5 or more people in the home then tankless is a good idea.. OTher then that the cost of rent or ownership out weighs the savings in efficiency. Then again if you can get a smokin purchase price under 2000$ installed it maybe a good idea.
Put thick, non-compressable styrofoam insulation under the tank, especially if the floor is cement. Also wrap it in a hot water tank insulation blanket. PEX tubing and fittings make everything a breeze as well.
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