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Tankless electric water heater

5 years ago

Have a 50 gal heater, w/ (2) 4500 watt elements that I just replaced a year ago with new thermostats. Energy label says uses 4700 kWh per year, but that was with the 5500 watt elements it came with.
There's just (2) of us now in the house, so we're running (2) showers per day, maybe (2) loads of laundry with hot water per month, and around (8) loads of dishes per month.

My question is would we see enough of a savings to justify switching to tankless? We just upgraded our HVAC to a Bosch heat-pump system and re-insulated the attic, and are putting in solar in the Spring. So I'm trying to figure out what percentage of our bill will go down with the improvements and if it would be helpful to switch to tankless or just leave the hot water heater installed until it finally shoots craps.

I've seen online where there are claims of 10% + when switching to tankless, but don't know if just for the (2) of us we'd see much at all? I can also see the argument that heating a 50-gal. tank for only (2) people is unnecessarily costly, as well. But, also nice to have hot water for awhile if the power goes out. Kinda' screwed with tankless in that situation.


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