Feb 1, 2008
Tankless Gas Water Heater
Posted by Clifford under Business
With all the water heater issues, I ran across this calculator which told me what the ROI would be on a tankless gas water heater.
The numbers are incredible . . . . if they are accurately calculated.
74% ROI?
$5400 saved over 20 years?
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Yep, that’s pretty accurate. I have not put one in a property yet but plan on doing so very soon. The initial cost to install is typically what pushes people away, but if you’re going to be holding the property for 10 years or more, it’s recommended (10 years seems to be about the break-even point).
I’ve heard about those. I have actually thought about installing those in our flips as a selling point until I saw how much they were!
That’s why I’m getting one! Well, two actually, since I want to be able to have hot enough water with multiple hot water taps open at once – bath and shower and washing machine at the same time, for instance. Of course, buying two cuts your ROI in half, but still.. Find the max flow rate you think you will have and check the heater specs to see the max water temp increase for that rate. My water softener has a flow meter in it, so it was just a matter of turning on the bath and shower and reading the display. But you could also use a bucket and run water into it for 15 seconds, then multiply it out to gallons per minute or hour. If the temp increase isn’t high enough for you, most units I’ve seen can be daisy-chained. I know a guy who bought three though and he said his third unit never comes on, so it was a waste. A max of two should be good for almost all houses, I think.
Too bad we missed the tax credit period. Had we bought one in 2007, we could have gotten a $300 federal tax credit.
Wouldn’t be surprised to see the tax credit extended, honestly.
We have had one in the Cabin on the hill for over a year now and love it! All the hot water you could want instantly and never ending–and all that savings! We use the Rinnai propane heaters also as back-up to the wood stove. We will use Rinnai in the big house when the time comes for sure.
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