Q: Does it make sense to replace my water heater?

I read somewhere that if your water heater is more than 8 to 10 years old you should think about replacing it. Apparently, there are substantial energy savings to be had. Is this true?

I bought my house 6 years ago and have never replaced the water heater. If what I read about energy savings is true, I should probably look into it. Also, are there any tax breaks for making an investment like this? Thanks for the professional opinion.

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