tankless water heater vs standard waterheater
 

Since my Rheem water heater is approaching 10 years in age I am considering having a tankless electric water heater installed instead. I am aware of the cost for electrical hook up as well as cost of the tank but am wondering what thoughts others have in regard to this consideration. I find it a waste of money to have water being maintained at temperature in existing 40 gal tank and thought a tankless system in the long run would be more efficient as well have a longer longevity. thoughts appreciated.

If your goal is to save money, you won't do it by switching to a tankless system. Just my opinion.

You will also increase the time to get hot water for your shower, etc.

On a side note, I have no idea what a tankless water heater costs, figure $200 or more for the connection, and if you are not handy the additional cost to flush (clean) the tankless water heater yearly. There was a company advertising on ToTV to replace a conventional water heater for under $900, and there was a 10% discount with the ad. I just did my own, water heater and some plumbing supplies was around $550, took 2 neighbors to help, and about 2 hours to complete the plumbing, so the $800 to $900 is not a bad price.

It is really nice to have a constant temperature, endless amount of hot water.

Since you are talking about electric, assuming you are installing the tankless in the same location as the tank. That would minimize the electrical costs. Also safe to ignore all the comments about how much longer it takes to get hot water with a tankless. There is no difference in output, just a difference in plumbing pipe distance.

There is a yearly flush that is beneficial to removing the scale that builds up. No anode rod to replace.

Size is measured by GPM and temperature rise.

An alternative I wish was done here is to have several smaller tankless heaters. One for master bath, one for 2nd bath, one for kitchen, and maybe one for laundry if not near one of the others. More cost, but near zero lag in getting hot water.

Operational costs should be less overall. You need the same amount of electrical energy to heat the water - maybe less because of efficiency. Need zero energy to keep a tank heated.

You will gain some space.

Check prices at big box stores, and at plumbing supply houses.

Replace the expansion tank too. Put a valve on it to make it easy to change in the future.

Many manufacturers offer a dedicated valve manifold. Get it. Makes installation so much easier, as well as performing maintenance.

While running power, try to have an outlet put in. Handy for a leak detection device. For either type replacement.

If you are hiring a plumber, check forums for recommendations. Also for people that have way overpaid for a F "happy" plumbing place.

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.

Thanks, I was hoping you would respond!

Considering a tankless
 

I am considering a tankless to preclude tank failure. I have had 3 failures over the years. One was semi catastrophic with an insurance claim over ten thousand dollars to clean up and replace AC ducting, flooring and wall sections. The others were fortunately less severe, but mold was a big problem (FYI UVC in the AC really helps). A neighbor had a full catastrophic failure and ended up having to stay in a motel for over a month because the entire house was flooded. I don't know why housing codes don't require the tanks to be closer to the house exterior with a large drain. I would be interested to hear if the tankless are less prone to failure.

Tankless heaters are typically installed outside the house, so if flooding is your concern, tankless is the way to go. Yes, it may take a bit longer for the hot water to reach a bathroom, but you likely aren't using hot water all day long. May or may not save you money, but we have been using Rinnai tankless heaters here in Florida and at our house in CT for years, and would never go back to a tank.

Yes, but it does not take into account the cost to replace a new tank after one fails as most new tanks are not lasting the usual 20 years but more like 10 or less depending on flushing schedule. I would be curious of the life expectancy of the tankless units as that could be your money savings over time. If the tankless life span is even twenty years or more you might get your return depending on how long you hold your current home. I think you need to first find out the conversion cost and work it back from there.

If you want to reduce the probability of a tank failure then look into Marathon water heaters. The tank is fiberglass. I had one in a previous house and would recommend them. One issue, however, is they are fairly large and the utility closet in many Villages' home may not have sufficient space. They are also a bit pricey but may be the last water heater you buy.

Probably in near future insurance company will force you replace it in 10 years or they won’t insure you?

I agree, but it is almost impossible to determine the lifespan of an appliance. I have never had a tank type water heater fail, and the only one I ever replaced was more than 20 years old. I have also never done any maintenance, flushing or otherwise, on a water heater. To me, if your goal is to save money, the initial cost of an appliance is more important than speculating on how long you think something will last.

I have an EcoSmart. It is great. Saves space and I never run out of hot water. Takes up four spaces in the electrical panel though. Be aware of that.

I had a home in FL with a tankless waterheater. You don't save energy and put up with several stupid things. Power out = no hot water at all. Takes a lot of wasted water flow to finally get to temp. Flow temp is never constant.