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.
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If no water was used, how much would the tankless system cost to run for the rest of your life? That number is missing in your test.