I had to replace my water heater today. The old one developed a leak somewhere, don't know exactly but enough to make a 3-4 foot puddle every day. Wouldn't have been so bad except the old one was installed with no thought of ever replacing it, water and gas both plumbed with hard lines, and you know the new unit never lines up to the existing pipes. Thanks be for flex line!
What about efficency? The model I picked has an energy factor of 0.62, almost the highest of any available locally (there's an 0.63, but with half the warranty). The 0.62 makes it eligible for a $50 rebate from my gas company. Nice. But on the rebate form I see that tankless heaters are eligible with an energy factor of 0.82 or better. My tank-type water heater doesn't look so good in comparison, but of course it cost a *lot* less than a whole-house tankless.
So I'm in for about $450 less the rebate, plus a few sore muscles and a very uncharitable attitude towards the previous installer. It'll be interesting to watch my gas bills over the next year to see if there's a noticeable difference.