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Old 03-31-2010, 06:56 AM
 
Location: Vermont
4,719 posts, read 9,100,016 times
Reputation: 1930

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Here is a big "Bueller" for this one. These heaters now apply for a $300 rebate and 30% tax credit. I may get a few quotes for installation.

One of the down sides is that they will not work when there is no power, where-as a traditional tank heater will keep on heating.....
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Old 03-31-2010, 09:33 AM
 
Location: Ashburn, VA
461 posts, read 656,862 times
Reputation: 343
Will a gas tankless hot water heater save you money over an electric tank hot water heater? If so, any idea on the payback time?
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Old 03-31-2010, 09:47 AM
 
Location: New Jersey
1,304 posts, read 1,819,721 times
Reputation: 772
i went to home depot this past weekend and their quote for a tankless water heater was between $4500-5000 installed. this includes running a new gas line (even though my current 15 yr old water heater uses gas fuel) and all permits, etc. seems very expensive when i can get a regular water heater installed for about $1000. even if i save $150 a year in gas bills, it would take me over 10 years to break-even.
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Old 03-31-2010, 10:47 AM
 
Location: Vermont
4,719 posts, read 9,100,016 times
Reputation: 1930
$4500-5000 is absolutely nuts. I am thinking $2k minus $300 rebate minus tax credit brings it down to $1200.

The units start at $700 I could install it myself for a few hundred dollars... however would rather a professional do it. These will very likely require a new gas meter due to the amount of gas they pull.

Looktowindward - do you have access to natural gas or propane...?

Last edited by joe moving; 03-31-2010 at 11:11 AM..
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