Tankless hot water heaters can save you money right now. You may have 40, 50, or 60 gallons of water that you are paying to keep constantly hot for when you eventually want to use it and it’s costing you money to keep that water hot in the mean time. However, Tankless hot water heaters are on demand so they are only heating water right when your using it. Tankless hot water heaters use a much smaller foot print in your home, making it possible to get that hall closet back or have more room in your garage. You can save a lot of money by not paying for that large tank for your hot water to stay hot.