Tankless hot water heaters are being encouraged by the US federal government. Tax cuts are given for those who opt to change from electric heaters to the tankless type. Tankless  heaters  come out cheaper and save one from high electric bills because the energy to heat a whole water storage is not used all the time. Instead, the tankless heater is simply installed in the kitchen or bathroom or any place in the home where one would most need hot water. Some aren’t eager to switch however because they fear that the smaller type of tankless heaters may be unable to simultaneously function — for instance when one wants to take a bath and another wishes to wash the dishes. In cases like this however, the best option is to get more than one of these tankless heaters. They’re easy to install and one saves hundreds in electric bills.

Read more about the tankless water heater tax credit at this site.