20 year old oil fired water heater, time to replace?

I have yet to hear anything good about electric tankless water heaters. The power demands are enormous - more than you can get out of a typical residential panel. I did stumble across one that I thought would work, but it turned out to need 4 breakers rather than 2 (and that fact was sorta hidden in the description).

You might start thinking about an electric tank, but then again, if it ain't broke, are you sure you want to fix it? Maybe some low-flow shower heads, pipe insulation, etc, can help reduce the amount of oil it uses.

I don't know how much your electricity rates are - they're about $0.08/Kw-Hr where I am here in Canada. Based on that rate and your indication of fuel prices where you are - the equivalent heat value of electricity to your oil would be $4.27/gal

You would get better fuel efficiency with a new burner on the heater (or a new unit altogether) - but you have to weigh out the fuel savings against the capitol cost of a new unit. If you save 10% on your fuel bill and you pay $800/yr - that's $80/yr saved, against the cost of a new unit of -say - $1200.

Tankless units WILL save money because you don't pay to store water 24 Hr/day for potential use of 3-4 Hr/day. That being said - I don't recommend electric tankless and they don't make oil units.

My recommendation - bottom line - keep the old heater till it dies and then get the best new heater on the market to replace it - you might have it another 20 yr.

the idea of landlord undesirable and tenant sturdy isn't continually real. the owner has popular jobs to soundly safeguard the gasoline fittings and electric powered equipment in the rented resources. From what I truly have gleaned out of your lengthy statement, you've a sturdy fueled again boiler to blame for the whole heating and kin warm water criteria of your residing. if that is the case, then your lack of ability to regulate and safeguard a warm water grant should be the duty of the owner. once you've alternatives like an emmersion cylinder to grant warm water and means sockets to enable oil crammed heaters to warmth the rooms then the issue will change into subtle. once you took up tenancy you agreed the employ and provisions in the flat which kinds the tenancy contract. Any breakdowns and upkeep to electric powered and gasoline domicile equipment ought to typically be totally the responsiblity of the owner. Many council properties have emmersion heating for the nice and cozy water for cheapness and luxury, regardless of the extreme operating prices for the tenants.

Get a new heater, you will save alot of money. Tankless only saves you space, no more money than a tank.

I have installed a few tank less water heaters in the past, and have not been in pressed with them. Your best bet is to go with electric.asap.