When it comes time to replace your old water heater, the options are more open than they were in the past. You may want to consider the benefits of having a Tankless water heater installed instead. A conventional water heater uses a lot of the electricity consumed by a home, and as such, is inefficient. A lot of that energy is expelled to keep water hot so that it is available for use at another time. If you have a lot of people living in your home, you’re familiar with the common scenario of running out of hot water due to everyone needing a shower in the morning.