Reduced Electricity Bills
When compared to the conventional storage tank models, tankless water heaters are highly energy efficient, and that’s inarguably the most significant benefit.
The units consume less power than the traditional water heaters because there’s no tank of water requiring continuous heating.
Besides, instantaneous water heaters do not experience the same standby energy losses common with the conventional storage tank units.
If your home uses 41 gallons of water and below, then replacing your existing gas or electric water heater with a tankless or on-demand water heater can provide 24%-34% more energy efficiency.
And for homes that use lots of hot water, instantaneous water heaters can be 8%-14% energy efficient (According to ENERGY STAR ®).
Compact and Occupies Less Space
Probably the most obvious and still a significant benefit of a tankless water heater is their small size.
If you have a conventional storage tank water heater that occupies floor space, then you should consider replacing it to save valuable space.
Tankless heaters are so compact that they can be mounted on the wall.
Designate an inconspicuous space that also provides quick water throughout the house and your good to go.