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Ads for tankless water heaters promise big savings. But are they accurate? Unlike a traditional water heater, a tankless model does not store hot water. It heats water only as it is used. One or a series of heating elements within the water heater is activated when a hot water faucet or valve is opened. The unit heats the water as long as the faucet or valve is open. When it is closed, the tankless unit stops heating the water. Companies that make tankless water heaters generally cite four advantages the design has over a tank-type water heater:
It is true that tankless water heaters do not require a lot of space. A large unit requires an area no larger than 24 inches square, and extends from the wall about 8 to 10 inches. But what about the other claims?
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