Have you ever heard of tankless water heaters? It might sound like an oxymoron, but these devices have been around for quite some time, and they have many advantages over a classic water heater.
The first positive is in the name. Since there is no tank, the heater doesn’t need to keep the water heated up despite the fact that no one is using it.
This will result in savings for you. It is also pretty much instantaneous. When you open the faucet, the hot water will come flowing. This can be a huge change for those that have a long distance between their water heater and their sink.
It might cost you a little bit extra to switch over, and you would need to have either a large unit at a central spot in your home or individual units at each faucet, but once the system has been running for a while, you will be happy for the savings.