How much money does a conventional gas water heater waste per month?

Question

I want to buy a tankless gas water heater for a house I will sell in 5 years. Will I recoup the difference in price over a new conventional gas water heater in 5 years?

The price difference is $600, which is $120 per year to make up in energy savings, or $10 a month. Will the energy efficient tankless gas water heater save me that much every month?

It is hard to know what proportion of the gas bill goes toward the water heater now. I am in Michigan which has snowy winters, so the savings is potentially greater in some months. I want to know if I will average at least $10 a month in savings on gas bills via this purchase.

Thanks for sharing your insight.

Answer 1

Its difficult to answer without knowing what size of hot water tank you have and what kind of use you get out of your hot water IE. Size of family, amount of showers per day, how much laundry etc.  If you have a 40 gallon tank or greater, I would estimate that you could probably save that amount per month. I'm sure you have done some research already but in case you haven't there is an excellent resource with a financial comparison table. You can get an idea of savings with this tool.

Keep in mind that having a tankless water heater will be a really good selling feature for your home too because the buyers will know they are going to save money on hot water heating.

http://www.thehcf.org/twhprimer.html

Hope it helps!

Answer 2

As a plumber for 14 years  i would say the tankless heater is not  the way to go  , I read all the website that give you all the pros of these untis but when in the field these pros seem to disappear , very few people are happy with these units after the install .They do seem to work well on smaller homes   and for small families , especialy couples , Standard tank water heaters don't use all that much energy , and i would bet you would lose out money on converting to an on demand water heater , the price of the unit , the repiping  and new electric line going to the unit , and the new circuit breaker, these electric units draw some serious amps .I have heard tons of complaints about these , like the other fellow said  just stick to what you have , tried and true .

Answer 3

I WOULD SAY I WOULD SAVE YOU THAT INTER IT TAKES LONGER FOR ANY HOT WATER HEATER TO RECOVER,A TANKLESS HEATER IS INSTANT MEANING NO LOST TIME FOR RECOVERY

Answer 4

Tankless water heaters are way over rated, mainly because being "green" is so popular. The cost of tankless is very expensive. Installation is expensive...you will need a power supply added, and you have replaced something very simple with something quite complex. You may need soft water. One service call for repair will ruin any savings you may have achieved. If you are selling in six years, keep it simple. From Michigan also.