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Oil Indirect Water Heater vs Electric Hybrid/Heat Pump Hot Water
I recently moved and the new house has oil heat, buderus oil hot water boiler (6-8 years old) and a stand alone electric hot water tank.
The hot water tank has been a rude awakening to my electric bill and with all the masssave rebates out there I'm wondering if it makes sense for me to replace it with either a hybrid/heat pump electric tank or an indirect tank to run off the oil buderus boiler.
I live in western mass so the oil boiler will be running pretty regularly 4-6 months of the year (depending on how cold my wife gets).
So I'm wondering what would be more efficient and what would make the most sense, replace the stand alone electric tank with a hybrid/heat pump electric tank or replace it with an indirect tank that runs off the buderus oil hot water boiler. Last time I checked there was around $750 in rebates for either option.
Also the existing electric hot water tank is about 8 years old and still working fine, just expensive to run. So do I replace it now or wait till it fails? If I replace it, which option is best for me?
Any advice would be welcome.
Thanks in advance.
Western Mass Steam Homeowner