The tech costs more than conventional options upfront, but federal tax credits, new 120V models and strong savings have made them more appealing than ever.
Do the math for how long it will take to pay off itself. Between my old inefficient water heater and the tax credit if I keep this thing for longer than a year I’ll be saving money.
It would be about $400/year cheaper to operate, but cost between 1200-1500 up front to buy and get installed (no idea how much installation actually is because no one wants to spill I guess).
So I’m guessing between 2-3 years to recoup the cost.
Bigger problem is that I’m not liquid enough to afford the up front cost right now.
Got it. They go on sale regularly. I bought my 50 gallon for $850 out the door back in May 2020. Swapping it out was easy if you’re at all comfortable with electrical and plumbing.
I’m not so worried with the electrical or plumbing (I imagine it’s not far off from the dishwasher I just installed), it’s more the installing it to code that I’m worried about. I don’t know all the tools I need and I’m not keen on screwing up and it turning into a multi day job.
Water heater and breaker box work are two things I contract out.
Do the math for how long it will take to pay off itself. Between my old inefficient water heater and the tax credit if I keep this thing for longer than a year I’ll be saving money.
It would be about $400/year cheaper to operate, but cost between 1200-1500 up front to buy and get installed (no idea how much installation actually is because no one wants to spill I guess).
So I’m guessing between 2-3 years to recoup the cost.
Bigger problem is that I’m not liquid enough to afford the up front cost right now.
Got it. They go on sale regularly. I bought my 50 gallon for $850 out the door back in May 2020. Swapping it out was easy if you’re at all comfortable with electrical and plumbing.
I’m not so worried with the electrical or plumbing (I imagine it’s not far off from the dishwasher I just installed), it’s more the installing it to code that I’m worried about. I don’t know all the tools I need and I’m not keen on screwing up and it turning into a multi day job.
Water heater and breaker box work are two things I contract out.
The manufacturer spec book (installation instructions) trumps code so if you follow that you’ll most likely be fine.
Hmm. Ok I’ll look into it. Thanks!