Originally Posted by beenthere
A regular tanked electric water heater would pay for itself in 3 to 4 years in most homes.
I just put a 40G electric tank in to replace the tankless coil in my oil burner. The tank, drain pan, 50' of 10/2 NM, 30A breaker, and other fittings/bits/pieces ran me about $500-600, with the NM wire and tank representing the bulk.
An indirect fired tank like a Super-Stor was out of my price range... My guess is that even w/ $4/G home heating oil the SS would be on par with the cost to run an electric tank of similar capacity... does anyone know?
Electric tankless didn't seem to be a good option to me... initial cost is high, they have a huge current requirement that can tax a 200A service, I'm also unclear of their lifespan, in researching it the implication seemed to be that if you have a problem with scaling in your tankless coil like I did, you will have the same problem in an electric tankless--meaning problems with not getting efficient heat transfer. The idea of spending a couple of grand on a large tankless only to have it scale up in a few years and not provide the same temperature delta was not the way I wanted go.
...another thought, if you are in an area with frequent power disruptions you will have no way to provide hot water if you have an electric tankless. Even with a 40G electric tank you can still, reasonably, get a generator to run that...
At least with the 40G tank I can simply replace it in ~5 years for the cost of a new tank (today, about $260-300).
...not to mention that come late March or early April it's going to feel REAAAAAAALY good to flip the switch and stop the boiler from running at least once every 30-60 minutes.