said by ncbill:I agree with you about the tankless/coil - and am very thankful for my basic, does-not-need-electricity water heater which burns cheap natural gas.
My new electric hot water heater is a Geospring. Not certain how expensive it'll be to keep.
Three of the happiest days in my life recently was the day my oil furnace and related hot water heater were removed, the day my chimney was removed, and the day the two 330 gallon oil tanks were removed.
I'm off oil, and am happy. My electric rates are much more predictable. The 2nd generation Geospring seems to run well. Supposedly it costs about half as much as a conventional electric hot water heater. My understanding will improve better over time.
My last go at oil heat was a System 2000, which had to be repaired about 5 times over an 8 year period.
Our heat pump has worked well in winter and summer.
We shall see what happens. I understand many are better informed than I can be, and are probably much smarter. For better or worse, in my home, at least immediately after this renovation, it'll be heat pump, electric auxiliary heat and a Geospring (second generation) providing hot water.
I don't want to worry about oil tank level, or how much oil will cost for the next 400 gallon fill.