T. A. Gardner
Thread Killer
Tankless water heaters do have a large power draw, but are also more efficient. The tanked water heaters store energy(badly) in the tank.
Doesn't make up for that huge power draw. Your electric billing rate is usually set on peak demand for the month. The massive spikes a tankless creates will easily double your per kwh costs.
Besides, I generate enough electricity with my solar panels that I rarely have to pay any real amounts of money for my electricity.
So, you were stupid enough to pay for 20 + years of electricity upfront rather than as you use it. Dumb move.
I think you underrate incandescent bulbs.$10 for a bulb that lasts 30 years, or $1 for a bulb that lasts one year... And do not forget the further savings in electricity costs.