Oh please help me decide( and more importantly convince my buzz word influenced wife), I want to replace my current hot water heater, there's nothing wrong with the current one other than being 18 years old, meaning it's a ticking time bomb waiting to flood my house.
So anyways, the local gas concern has partnered with local contracters
Tankless install $25 a month of 60 months, minimum spec heater, does not include expensive, required stainless steel venting. $450 rebate
Tank heater 40 gallon install $10 a month sixty months, includes venting $350 rebate
Now the no brainer, my gas bill is averaged at $41 a month, $30 is actual gas charges,
Now, the tankless claims to save "up to 50%" which is marketing speak for "does not save 50%" but let's say it does, I would save $15 a month, the difference between the cost of the tankless versus the tank, so it would be 54 months before I started saving money.
And since we plan on "upgrading" to a new house before five years (when I've graduated), I will never see those savings.
Guess I really should get the tank heater, what do you think?