A tankless water heater is installed in a similar fashion to a conventional tank-style water heater. The main difference is that a tankless system heats water as it is drawn from the pipes, whereas a conventional system holds water until it is needed. A tankless water heater installation is straightforward and can be done by even a homeowner with basic DIY knowledge. However, you should always check with your local utility company to find out whether you’re in the correct geographic area for a tankless water heater. There are two types of tankless water heaters that are commonly installed for residential use – electric and gas. Depending on your needs and local utility rates, you may want to consider more than one type of tankless water heater to best suit your house.

Tankless water heaters can save money on water and energy bills. If you live in a house that has high water demand, but don’t have an easily accessible source of water (such as a well), a conventional tank-style water heater may not be the most cost-effective choice. A tankless water heater can be installed in any place where there is a demand for hot water, such as in a utility room or a garage. In most cases, installing a tankless water heater will cost less than retrofitting an existing water heater so there’s a good chance that it will save you money in the long run.

- Installation - Because a tankless water heater is installed on-demand, it does not require a large storage tank like a conventional water heater. This means that the installation can be done in a small space, such as in a utility room or under the stairs. - Energy efficiency - The amount of water in a tank determines the amount of energy needed to heat it, so a tank-style water heater is generally not very energy efficient. A tankless water heater, on the other hand, heats water directly as it flows through a heated metal coil. This means that you can install a smaller water heater, which will save up to 80% in energy costs.- Water savings - Tankless water heaters can reduce hot water use by as much as 80% compared to a conventional water heater because they only heat water as it is needed. Since there is no need to store hot water, tankless systems are ideal for households with high water consumption.

The average American home uses about 150 gallons of hot water per day, which is equivalent to about 5,000 gallons per year. A tankless water heater can reduce your water use by up to 80%, which means that a tankless water heater can save you more than 3,000 gallons of water per year. This savings applies to both residential and commercial properties.

The average cost of a tankless water heater is between $900 and $2,500, which is much more than the average cost of $500 to $1,500 for a conventional water heater. However, tankless water heaters can save you money in the long run. The average cost of a tankless system, which includes installation, is $2,500; however, the average savings is $3,000. - Installation - The installation of a tankless water heater can cost between $600 and $1,500. This cost is due to the fact that a tankless water heater requires more complex piping than a conventional water heater. - Operating costs - The average cost to run a tankless water heater over the course of a year is $300. The average cost of running a conventional water heater is $150 per year.

If you live in a rental property and want to install a water heater, you may not be able to install a tankless water heater. This is because water heaters are typically located in the basement, and landlords are not allowed to alter the plumbing in a rental property without the permission of the tenant. In these cases, you may want to consider a conventional tank-style water heater.

The main difference between a tankless and a conventional water heater is that a tankless water heater heats water as it is drawn from the pipes. Therefore, the main considerations when deciding whether a tankless water heater is right for you are the amount of water that you use and the location of your house. If you live in a house with high water demand, a tankless water heater may be a good investment. Tankless water heaters can reduce the amount of water used by as much as 80% and can save you money in the long run.