I have a home that the heat and hotwater is done by a single oil furnace. Although I'm not interested in switching from oil to electric, I was thinking it might be an idea to complement the oil system with an electric system as a backup?
I was wondering if the idea of putting in an electric hot water tank inline with the output of the oilfed hotwater system would be a good idea or not? At this point, I'm only thinking about the hotwater used at the taps, not the heaters. The idea being that the water coming out of the furnace would be held in the tank, and kept hot by electricity. (although I'm thinking that electrical usage would be low do to the water entering being reasonably hot already.)
Essentially, just thinking in case of a failure on the oil furnace, that the hotwater tank would back me up?
Is this a reasable idea? Or should I spend my money on a different project? :)
Thanks!