
Originally Posted by
tulip
When I first posted in this thread, I was looking at a condo. But I ended up buying a little house instead. The old hot water heater was toast, so I replaced it. The cost difference between a tankless and tank heater was so great, that in my case it just did not make sense to go with the tankless ($4,000 vs. $800).
The new electric tank hot water heaters are very efficient--more efficient than the gas tank heaters because gas heaters need to be vented, and that allows some of the heat to escape. The plumber said the electric tank heaters lose 6% and the gas ones 30%. The new electric tank heaters are like a giant thermos--very well insulated and once the water gets heated, it takes very little energy (about 1.5 hours per day) to keep it at the proper temperature.
A tankless water heater was not appropriate for my situation. My plumber said that Rinnai tankless heaters are the best of the tankless, FWIW.