Gas water heater tank in place of electric

[aokec]

I am supposed to replace a faulty electric water tank but Direct Energy's tech gave an option of either fixing the electric tank or going gas (would rent $15 a month from them plus $400 for an independent guy who the tech recommended, to install a liner that goes into the chimney)

I'm just wondering how much money I'm gonna save by going electric vs gas.
Gas will cost the $400 installation fee plus $15/month for renting the gas tank...how long would it take to break even?

I use about $600-700 of electricty in a house alone every month.

Thanks

[gheart008]

I am supposed to replace a faulty electric water tank but Direct Energy's tech gave an option of either fixing the electric tank or going gas (would rent $15 a month from them plus $400 for an independent guy who the tech recommended, to install a liner that goes into the chimney)

I'm just wondering how much money I'm gonna save by going electric vs gas.
Gas will cost the $400 installation fee plus $15/month for renting the gas tank...how long would it take to break even?

I use about $600-700 of electricty in a house alone every month.

Thanks

gas is much cheaper than electricity so longer term it'll be much cheaper to have a gas water tank. I think you should just outright buy a new tank as renting a tank is just silly. The cost of a new tank isn't that much relatively speaking and at $15/month, you recover the full cost after a short few years (assuming you're staying there for a while).

$600-$700 a month in electricity??? That's insane... It's like you're paying an additional small mortgage...

How big is your house?

[aqnd]

How much of that electricity bill is water, though?

Anyways, for a typical home, its only worth it if you already have gas service. If you don't, you're not going to see savings over the $20/month service charge +gas unless you use a LOT of hot water. If you have gas service, for sure it will save in the long run.
Ditching the rental will save even more in the long run.

[aokec]

How much of that electricity bill is water, though?

Anyways, for a typical home, its only worth it if you already have gas service. If you don't, you're not going to see savings over the $20/month service charge +gas unless you use a LOT of hot water. If you have gas service, for sure it will save in the long run.
Ditching the rental will save even more in the long run.

how do I buy the gas tank? from Direct Energy? Seemed like they wanted me to rent their tank.

I'm probably gonna sell the home in 2-3 years but will be away often so it might not be used that often in the long run. Would changing to a gas tank be a good investment considering it could be a selling point for the house?

[aqnd]

how do I buy the gas tank? from Direct Energy? Seemed like they wanted me to rent their tank.

I'm probably gonna sell the home in 2-3 years but will be away often so it might not be used that often in the long run. Would changing to a gas tank be a good investment considering it could be a selling point for the house?

You can get tanks through home depot, etc or hvac companies.
It would be good for resale to switch, as you need the vent pipe installed and new owners would likely want gas - if its already in, they should know the value of it. You'd be paying $25+ per month to DE to rent, so in 3 years you'd have the tank paid for, just the venting/install costs outstanding. And when they raise the rent (you know they will), you'll be further ahead. New owners should also appreciate not having to deal with DE, unless they heard nothing in the news this year.

I'd be taking this chance to drop DE regardless, considering what they tried to pull earlier this year.

[TripleHelix]

You can get tanks through home depot, etc or hvac companies.
It would be good for resale to switch, as you need the vent pipe installed and new owners would likely want gas - if its already in, they should know the value of it. You'd be paying $25+ per month to DE to rent, so in 3 years you'd have the tank paid for, just the venting/install costs outstanding. And when they raise the rent (you know they will), you'll be further ahead. New owners should also appreciate not having to deal with DE, unless they heard nothing in the news this year.

I'd be taking this chance to drop DE regardless, considering what they tried to pull earlier this year.

He said rental would be 15$/month

[gman]

how do I buy the gas tank? from Direct Energy? Seemed like they wanted me to rent their tank.

I'm probably gonna sell the home in 2-3 years but will be away often so it might not be used that often in the long run. Would changing to a gas tank be a good investment considering it could be a selling point for the house?

If you definitely will sell the home in 3 years (instead of probably) and you are renting the electric one, just ask them to fix/replace the electric one and that should be free.

[aqnd]

He said rental would be 15$/month

Then they're trying to cheap out. Standard these days is power vent, and DE charges 25/mo + tax for that.
If you're thinking resale, you want a good one. Or nothing at all, fix the existing and live with the bills until you sell.

[aokec]

You can get tanks through home depot, etc or hvac companies.
It would be good for resale to switch, as you need the vent pipe installed and new owners would likely want gas - if its already in, they should know the value of it. You'd be paying $25+ per month to DE to rent, so in 3 years you'd have the tank paid for, just the venting/install costs outstanding. And when they raise the rent (you know they will), you'll be further ahead. New owners should also appreciate not having to deal with DE, unless they heard nothing in the news this year.

I'd be taking this chance to drop DE regardless, considering what they tried to pull earlier this year.

Thanks for the input, everyone. I just have a couple Q's:

1. Do you know how much a gas tank would cost me approximately from Home Depot?

2. Also, would my energy bill be taken off of Direct Energy and I would have to call up the gas company? (I think I'm with Enridge....not sure if related to DE)

3. Lastly, do you think $400 is reasonable for the new vent pipe to be installed and connected to the chimney? That's what I got quoted.

4. And who would take the old electric tank from me?

Thanks

[gman]

Thanks for the input, everyone. I just have a couple Q's:

1. Do you know how much a gas tank would cost me approximately from Home Depot?

2. Also, would my energy bill be taken off of Direct Energy and I would have to call up the gas company? (I think I'm with Enridge....not sure if related to DE)

3. Lastly, do you think $400 is reasonable for the new vent pipe to be installed and connected to the chimney? That's what I got quoted.

4. And who would take the old electric tank from me?

Thanks

Do you own the old electric tank?
Based on Q2, it seems you are renting. If you are, you need to talk to DE and ask them how to give the tank back to them.

[rocking23nf]

700 bucks for electrical?????????????


wow.

i have a 2400 foot home, with gas heat/fireplace/bbq and my electic/water/gas bill is around 200 bucks a month.

And I BBQ alot and live in Edmonton, we get -40 sometimes.

[woof]

700 bucks for electrical?????????????
wow..

I agree, wow! You're up in the "drug dealer with a grow op" category. :)

[aokec]

I use electric for the stove, central heat, and wash the clothes and use the dryer once a week

Would that be the reason why?

[gman]

I use electric for the stove, central heat, and wash the clothes and use the dryer once a week

Would that be the reason why?

There is no gas going to your house at all? How would getting a gas water heater work for you? Do you need to pay even more just to get the gas line into your house?

[DavidY]

I use electric for the stove, central heat, and wash the clothes and use the dryer once a week

Would that be the reason why?

$700 per month in the summer....or year round? Either way, that's very pricey for a standard house....might be fine if you have a much larger house. Electricity for central heat is pricey...if natural gas is available, it is typically the preferred way to heat a house. Stove use is occassional...so it the dryer and washer. Heating is typically off on in the summer....however, if you have A/C.

Dave

[aqnd]

That changes everything. See my first post.

If you have no other gas appliances, don't bother. You'll pay $20/month just to be hooked up, plus gas used on top. $20 buys a lot of hot water.
Only go ahead if you switch furnace over to gas, then it makes sense to do both at once.

Get your current tank fixed up, and buy out of the rental. Then you'll save a bit each month until you decide on the gas.

[riccd2001]

We replaced our Sears 35-year-old bottom-feed HWT at Parry Sound cottage in April 2012 (Low-use 7 months a year) as part of some plumbing renos. DIY so-so GE replacement was $Can300 at HD. Plumber price was $Can330 and is a well-respected top-feed GIANT unit. :D

[aokec]

I found out I use gas for central heating.
Does that change things and should I proceed with a gas water heater rental?

Thanks

[gman]

I found out I use gas for central heating.
Does that change things and should I proceed with a gas water heater rental?

Thanks

Now the question is (back to): how come you are spending $700 per month in electricity?

[aqnd]

Yes, I would go ahead and switch to gas.
I'd strongly advise against a rental, but if you are so determined, go for it.

[ET4041]

Yes gas water heater all the way. Since you have gas service already, it will pay for itself before you sell.

Are you sure you're paying $700 a month? If you're served by Toronto Hydro, bills are sent out every other month. Then your monthly cost would be $350 (still high but not unrealistic with electric water heater).