Question:   How much money will a tankless heater save me?
Answer:   Your individual savings will depend on several factors. The model of tankless water heater you purchase, the size storage tank you have now, and whether it runs on gas or electricity.
The average savings is about 25% on your energy bill.
Most homes use hot water for a cumulative total of about one hour per day, yet they typically keep 40 to 50 gallons (or more) of water hot 24 hours a day. Having a system that eliminates the storage and heats water only as you use it can dramatically reduce your energy consumption.