I had occassion to speak with Direct Energy about my Hot Water Tank. After many years of renting, I decided that it was time to purchase one.
Much to my horror, I was told by Direct Energy that I litterally had to keep renting the unit till the day I die. It seems that unlike most contracts there is no end date. So, buyer beware.
If you are purchasing a home and do not wish to rent the tank, the only way to get rid of it is if the home owner buys it out othwise you are into a new contract.
If your tank breaks down, and you are not interested in continuing to spend 24.99/month, then I suggest that you call Direct Energy to find out what your buy out is and then decide whether you should buy or continue to rent.
Just think, 24.99 times 16years or 192 months is $4,798.08 for a hot water tank. Ouch!