Tankless water heaters are a relatively new alternative for home water heating. These systems provide “on-demand” heating—rather than storing and heating water in a tank reservoir, the unit heats water as it’s being used. With this conservative system, tankless water heaters can provide substantial savings on your home energy bill as opposed to traditional tank water heaters, which periodically heat the water in the reservoir regardless of whether the supply is being used. Additionally, a tankless water heater can ensure that you’ll never run out of hot water, since there is no wait time for heating. This is a good system for households with high hot water consumption.