The most efficient models are sometimes not the cheapest ones up-front. While payback is usually defined in terms of money saved, it can also mean lightening the load on the electrical grid, consuming less of our increasingly limited resources and emitting fewer greenhouse gases.
By replacing your traditional tank water heater with a tankless water heater, you’ll spend less money month to month. In many cases, the savings over time is greater than the purchase cost. There are many rebates available for purchasing energy efficient equipment as well. Rebate amounts vary based on the efficiency factor of the equipment chosen.