Cost–benefit analysis

[Krik]

Hmmm...that means replacing the one I have in the basement would be a bad idea in the summer when it is cool down there. It would be great during the heating season as that is where the pellet furnace is and really heats the basement in the winter. With the current price of oil at $3.86/gallon, I spend just over $1,000 for hot water a year.

With that setup it should be fine. It shouldn't transform the basement into a freezer in the summer. My main worry would be winter performance, but you have that covered. If you want to get real fancy, you could put the water heater in its own little room - open that room's door to the basement for the winter so it gets pellet heat, and close the door then duct in some air from outside in summer so it gets outside heat.

 

[Love the Heat]

Following this thread, i'll chip in with my experience on this.

There was a saying that it takes an oil tank/year for the hot water tank....I can confirm YES.
I have cut a tank/year since I went to a tankless electric water heater.
I was able to throw the tank out and make room for my pellet heater.

I've had the water heater for 2 years now and honestly, I have not seen a difference
on hydro, and this thing spins when it's on.
I had the wire and space in my electric cabinet.

I connected it one day and only told my wife a week later to see
if she had notice anything and the answer was NO.
There is different size available depending on your need.

Have a look (broken link removed to http://www.stiebel-eltron-usa.com/tempra.html)

Cheers...

 

[Ejectr]

Following this thread, i'll chip in with my experience on this.

There was a saying that it takes an oil tank/year for the hot water tank....I can confirm YES.
I have cut a tank/year since I went to a tankless electric water heater.
I was able to throw the tank out and make room for my pellet heater.

I've had the water heater for 2 years now and honestly, I have not seen a difference
on hydro, and this thing spins when it's on.
I had the wire and space in my electric cabinet.

I connected it one day and only told my wife a week later to see
if she had notice anything and the answer was NO.
There is different size available depending on your need.

Have a look (broken link removed to http://www.stiebel-eltron-usa.com/tempra.html)

Cheers...

I'm game.....and the cost of one of these babies?

 

[1Dtml]

This mild winter is definitely not helpful to anyone's CBA stats.
I did my CBA up front as well, and it showed a 4-5 year payback.
After the install was complete I looked back on my CBA to find that my yearly oil cost would have been way more (didn't notice that oil had been $1.-1.75 cheaper for most of the oil season) had I used current oil prices, so this made my investment look really good, but I topped off my oil tank today to avoid a hike that is probable, and this really made me happy with my pellet investments.
;-)

1D

 

[bonesy]

So far, if I don't count the electricity used to run my stove, I actually profitted $100 this year. The in-laws bought the stove for us as a Christmas gift, paid $200 for a ton of Prestologs with 7 bags left and got the $300 back for the tax energy stuff.

 

[Love the Heat]

Following this thread, i'll chip in with my experience on this.

There was a saying that it takes an oil tank/year for the hot water tank....I can confirm YES.
I have cut a tank/year since I went to a tankless electric water heater.
I was able to throw the tank out and make room for my pellet heater.

I've had the water heater for 2 years now and honestly, I have not seen a difference
on hydro, and this thing spins when it's on.
I had the wire and space in my electric cabinet.

I connected it one day and only told my wife a week later to see
if she had notice anything and the answer was NO.
There is different size available depending on your need.

Have a look (broken link removed to http://www.stiebel-eltron-usa.com/tempra.html)

Cheers...

I'm game.....and the cost of one of these babies?

Here'a better informative site with specs and price of different models
http://www.e-tankless.com/products.php?gclid=CLm99s3Epa4CFUff4Aod9jkdPQ