Question: Should I change to a Tankless Water Heater?
Significant improvements in tankless water heaters have come in the last few years. Higher efficiencies and better systems can be custom tailored to fit your needs. The benefits are obvious. The tankless only heats when there someone turns on the hot water. This reduces the cost VS. a tank type heater. This is especially true in situations where hot water use is occasional. Some of the drawbacks are:
-higher initial cost than tank type
-additional delay in getting hot water to the point of use
Tankless Water Heaters come in several efficiencies. Some are as low as 65%. This is the same efficiency as your tank type. I would recommend sticking with a 90 or 95% efficiency rated tankless. Call us to size up your situation and see if a Tankless Water Heater can meet your needs.