My water heater is going to need to be replaced soon, so I’ve been researching cost-effective energy-savings solutions.
I have narrowed my search to the Bosch Tankless Water Heater series, for several reasons:
- My current water heater is in my attic, and although it hasn’t ever leaked on me, I have always been concerned about having 75 gallons of scalding hot water sitting over my head. A tankless system removes that concern.
- The systems come in electric or natural gas – I currently have a gas water heater, and want to keep it that way.
- Since the system is in my attic, whatever I put up there can’t take much maintenance – because it’s a pain in the rear getting to it.
- My current water heater has an always-on pilot light that both wastes money, and adds a significant fire hazard – these systems are pilot-less with electric ignition.
- My current water heater keeps 75 gallons of water hot all the time – even if I’m not home for a couple of weeks – not very smart.
So these units fit my requirements. The initial cost will be about $400 more than replacing my current traditional unit, but in just over three years the energy savings will pay the difference. Add to that the fact that this unit qualifies for a $300 Federal Income Tax credit – thanks to the Energy Policy Act of 2005, passed by Congress and signed into law by President Bush, homeowners who have a tankless gas water heater with an Energy Factor of 0.80 or greater installed in their home in 2006 are eligible for a $300 tax credit on their 2006 income taxes.
Considering the tax incentive, overall savings, energy-reduction, and increased safety this unit more than justifies the additional up-front expense.
I estimate that my annual saving will be about $150 / year after the third year. Considering a life-expectancy of ten years for the water heater, that’s over $1000 I don’t send off to a utility company. Sweet!
Note – my local water company does not offer any other rebate on tankless water heaters right now – but check with your water company – some offer as much as an ADDITIONAL $300 rebate to encourage you to Go Green!