Tankless hot water heaters supply an endless amount of hot water, meaning you never have a cold shower! Tankless water heaters have a high initial cost because this tank requires the installation of energy sources as more electrical power is needed.
Tankless water heaters work on demand, meaning they heat water when it is needed rather than trying to keep the water hot even when it is not needed, hence the need for more electrical sources. Since this tank is on demand, it uses about 30-50% less energy saving households money on utility bills.
Again, it is important to consider how big your family is while deciding on what size water heater is needed. It is important to note the larger the heater the more expensive it will be up front. Lastly, tankless water heaters last three times as long as tank water heaters, again saving households money in the long run.