My brother recently built a new house.  When we went to visit him, I noticed that the water heater in his garage wasn’t the usual size.  He explained to me that it is a tankless water heater.  I’d never heard of one before, so I asked him to explain it to me.  He said that Electric Tankless Hot Water Heaters are very efficient, and can help save money as well.  The prices have gone down on them over time, so they are more affordable.  I’m going to keep this in mind, and buy a tankless water heater when it’s time to replace ours.

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