I have a 20+ year old, 115 gallon, electric water heater. Works like a champ, but I'm considering replacing it for a couple of reasons.
- It's leased - I pay $20/mo.
- It's 115 gallons for a house with 3 adults
- It's 20 years old
Based on that high level criteria, I'm looking to replace it with an energy smart, 50-gallon, electric water heater - specifically - this one
Does this seem like a reasonable idea? I'm looking to save money, obviously, over the long run between eliminating the monthly bill and the energy savings.