Not only will tankless water heaters give you back more floor area, but they also operate in a completely different way than standard tank-style water heaters, which heat all of the accumulated water together. The concern with that is—if the heated water doesn’t get used up—the water cools down and will need to be reheated, wasting time, energy, and money.
Tankless water heaters utilize gas burners or electric coils to heat water just when it’s in need, leading to major savings on energy bills. Think what it would be like to have a neverending supply of hot water. Yes, with a tankless system you can use your dishwasher AND still get a comfy hot shower! They are economical in size, energy-efficient in design, and cost less to run.