Over the past couple of weeks, there have been some issues with the house including…
Time to replace the water heater!
Jennifer and I discussed going to a tankless water heater but wanted to get a few quotes due to the expense. You can see from the image above that we actually have two electric water heaters which cost about $849/year to run. The house used to be a school with 5 and 1/2 bathrooms so two water heaters were installed to meet demand. So I got three quotes and here are my options:
- Remove the leaking water heater and continue to use the remaining one which should be fine for a family of four. This option would be free as I have all the tools and materials I need. We would be paying $425/year for operation costs. The newer water heater should be good for another five years. I would need to let the tank drain and Jennifer would need to haul it out of the basement. There would be a disposal fee of $15.
- Get a tankless water heater. This would provide us with water on demand and we wouldn’t have a large tank of water sitting in the basement ready to leak. It would require a new gas line from our boiler which would cost about $100. Apparently, it takes a while to get warm water and sometimes you get warm water followed by very cold water and then warm water again. The total cost of the installation would be $3300. It also requires annual or maybe bi-annual (due to being on city water) maintenance in the form of a flush solution which costs $30/year. The operation costs would be $262/year for a total of $292/year.
- Get an electric heat pump water heater. I didn’t know much about these until discussing the options with a plumber but they are very efficient, act as a dehumidifier in the warmer months, and have three different control settings. They cost about $190/year and require a good deal of space – at least seven feet to the ceiling and lots of square footage. They also run more efficiently in the winter when they aren’t in a cold room. We have the perfect setup with a large basement sharing a room with the boiler which keeps things very toasty in the winter. The total installation cost would be $2600. There are filters to buy as well which would be $16/year. The total cost would be $206/year.
So, what are your thoughts? Anyone have experience with an electric heat pump water heater?