Dan Penoff wrote:
I know a couple of people who have done the electric tankless, neither of which 
are happy with it.

The power factor on an electric tank heater is usually about .92, so they figure 8% of the cost is heat loss from the storage tank. If the tankless is at all annoying to use, you won't want to put up with it for a potential 8% savings.

I wonder how well a hybrid would do in a 50 degree basement.

Mitch.

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