On Tue, 09 Nov 2010 15:01:40 -0800, Prof Wonmug wrote
Re Tankless water heaters:

Are they really cheaper than a central water tank?

No. Compared to a well insulated conventional water heater, the
pay-back for the tankless is longer than it's service life.

There may be other reasons that make it worth while, but cost saving
isn't one of them.
--
Work is the curse of the drinking class.