Replace oil hot water heater?

[commissarhanish]

Looks like my oil fired hot water heater is on the way out. I was thinking of getting an electric on as the rates for oil are out of sight. Knowing that electric tanks take longer to heat and I will need to pay to have an electrican install wiring for a new one, what do you all think is the best deal? Here in Bangor Maine, electrictity is not cheap, but neither is oil.

Thoughts?

 

[mikeyny]

go with an on demand water heater. bosch or tahgagi (sp)?

 

[burntime]

I gotta say if you look at the payback for an on demand unit they are not all they are cracked up to be. They are more efficient but I have a 40 gal nat gas and it runs like 12 bucks a month...Double the price and how much are you gonna save?

 

[Gooserider]

Do you have any fuel choices besides electric and oil? Can you get Natural Gas or LP? From what I've heard, NG is the cheapest for water heating. I've heard the electric on-demand units are really problematic, as they draw really HUGE amounts of power when they come on, and don't really save anything over a well insulated electric tank unit. (Electrics have fairly low standby losses, and really that's what you are trying to beat with an on-demand unit, you still need the same amount of heat to get the water you are using hot...)

I'd also be looking at what you could do for solar, and / or possibly doing something that ties in with your existing heating system.

Gooserider