Tankless water heater is very efficient and economical as it the saves a lot of energy, unlike the tank-type water heaters. They heat water only when needed, and therefore no standby water is left because there is no storage. Conducted surveys show that people want hot water, but they do not want to wait for it to heat up. You can click here for the best tankless water heater.
Electricity must be used, or gas must be burned if you heat water, that an ordinary physics law. It is going to cost the same amount of heat to heat up the same amount of water whether you use a tankless water heater or a storage water heater. Condensing heaters are more efficient and also very expensive that you would have to use a lot of hot water to come out ahead.
A tank water heater can that can provide two showers at once is cheaper than a tankless that can also provide the two showers. Installed costs run higher for a tankless water heater compared to a storage water heater. The installation cost being expensive is a huge consideration factor as it may break before you recover the initial cost, not including the electricity bills. You will also need a bigger gas line and a vent. If you are using the power, you will require heavy duty wiring to install the tankless heater.
It is possible to carry out several duties with a water tank heater i.e. wash dishes, take a shower, etc. unlike a tankless water heater that you purely have to do one duty at a time in case you would like to carry out several then you are better of having different switches for each place. The other limitation of a tankless heater is that you cannot get a trickle of water, the shower would probably not turn on. Given the energy cycle, a tankless water heater undergoes it is safe to say that you showering can be quite an ordeal with the shift in power.
The pilot light of a tankless water heater has always to be kept off when the heater is not in use as energy is consumed as long as it is off. You are likely to lose heat from the pipes with the tankless water heater. All the meat plumbing between the faucet and the heater is heated up when water is in use; the generated heat always radiates away.