Makes much more sense now. Totally different worlds we live in.
After 10 years in the HVAC trade, and while not typically a residential guy, I have not once had a customer opt to dig a sump pit and have a pump installed for preventative reasons. People see spending money now to save later as a trick that contractors play.
Sometimes the contractors are just looking out for your best interest haha. I’ve been in multiple flooded boiler rooms. One of the worst was in a building where there was a pit, but the sump pump should’ve been changed years ago. A rubber diaphragm split causing a flood… 6 feet of water in the basement. Multiple 460V breaker panel bus bars, and even the main to the building was underwater. The top of the boiler was sticking out of the water about 6". Multiple speed drives under water, their building automation system was half under etc.
A combined $300 in parts could’ve saved this company ~30,000 dollars but they “didn’t have the money”.
I guess all I’m saying is that 99.999% of people decide against the more expensive option, more often than not due to not totally understanding the consequences.
Sorry for derail OP
I personally haven’t seen any tankless electric heaters in my area, only NG/LP. In theory your savings would be even less than that of someone switching from conventional to tankless NG/LP due to electricity being 100% efficient. NG/LP has loss of efficiency through combustion and insulation (jacket or piping), with combustion being the primary saver. Going from standing pilot to a tankless condensing is a large jump in combustion efficiency, whereas there is no combustion in electric tankless heaters, so no efficiency is gained.
Its a possibility you may actually pay more to run a tankless electric due to the high wattage needed to consistently heat the water to 120 or 130° quickly.