Up until recently electric tankless water heaters could not hope to compete with those units using primary fuel sources like oil and gas. But thanks to the quality of modern technology, there are units that can provide for your home hot water needs safely and conveniently.
Being electrically based, electric tankless water heater incorporate all sorts of safety features - they can be set to provide an absolute maximum temperature. This is a great way of protecting kids and the elderly - in fact all of us - from scalding.
Some of the advantages of tankless hot water heaters are obvious. Since they do not have a tank, they have to heat the water as it comes through the pipes. This means that they will not run cold like the old-style tanks eventually will.
It also means that your instant hot water heater will save a few dollars (over time quite a lot of dollars) by heating only that water you use.
One further clear advantage of the tankless electric water heater is that they run from standard mains electricity.
So if all that has been stopping you from going tankless is an unwillingness to have gas or oil at home, then electric tankless units may provide your perfect solution.