Quote:
Originally Posted by Toymeister
I have a whole home energy monitor. It isolated about 14 electricity consumers, including the water heater. I also have some smart home technology with a water heater switch.
To answer the question of savings of turning the heater off on a timer due to standby costs. I left a vacant home's tanked heater on for one week, then the next i ran it for 8 hours, 16 off. I repeated the two week cycle. No one was in the home, not a gallon of water was used.
My exact savings with a timer equated to 78 cents on a monthly basis.
No, a tankless heater will not save you money.
|
I knew it. Spending a lot of money upfront to try to save money over 10 years is usually not a good plan. And, don't forget the time value of money, which further reduces any potential future savings.