Some of the benefits to going with a tankless heater. Many units come with a federal tax rebate of $300 and are more efficient than storage tank models — you can shave as much as 20 percent from your water heating bill. Since tankless heaters heat water as it flows, you’ll never run out of hot water. Tankless heaters also last five to ten years longer than a storage tank model. Electric models don’t produce greenhouse gases, and there’s no possibility of flooding due to a ruptured tank.
Tankless water heaters require yearly maintenance to avoid larger problems in the future.