Quote:
Originally Posted by 908/930
Your electricity must be really pricy to get a one year payback, up here reg 50gal electric $700, 50gal Heat Pump electric $2900, $2200 purchases a lot of electricity, Tank will likely need replacing prior to breaking even. Great for application that needs electric but does not have enough amperage to house or off grid use. When building I did consider one but went with natural gas, regular tanks have a 10 year lifespan around here.
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I guess you're quoting CAD$.
Here in CT a HP water heater is $1800 USD minus $750 in utility rebates=$1050 USD. Electric water heaters are $600 USD. That's a $450 difference.
Considering electric resistant element water heaters are the least efficient of any water heater, I'd say $450 bucks over 8-10 years is well worth it.
As for ROI, if I'm worried about $45 a year I've got much bigger problems on my hand.