So the hot water from the boiler goes thru a taco pump to the tank on the output or return side it goes thru a small valve with a knob. Does anyone know what this valve is for and how should it be setup? From this valve it goes into the boiler return.
The boiler should actually be sending steam to the hot water tank, where it passes through a heat exchanger that heats the water in the tank. The valve adjusts how much steam gets through (and thus how hot the water in the tank stays). Ideally, this would be a thermostat-driven valve, so that the water in your tank is kept at a constant temperature.