Thanks to all who answered my question about tankless electric water heaters. I think I'll stick with an oil-fired unit. I got an estimate for two options; I can replace the free-standing oil-fired unit for about $4,100, installed, or I can get an indirect water heater which runs off the oil boiler as a separate heat zone from the house radiators for about $4,900. I'll get a couple more estimates before making a decision, of course.

The indirect unit would reduce maintenance costs since I'd only have one burner going, but it would probably wear out the burner a year or so earlier from the increased usage. The free-standing unit is cheaper and will probably last 10-12 years, by which time I'll probably be in a rest home, while the indirect unit should last much longer.

Any thoughts on indirect units? Thanks in advance for any advice.

Paul