I'm thinking of replacing a regular water heater with a more modern one. Friends advise looking at tankless options. But I don't understand what their advantage is, other than saving space. Is it worth bothering with replacement? Maybe someone has already installed such? Please share your impressions.

Tankless water heaters actually save space and use less energy than conventional models.​

If you want to save space and energy, consider a tankless water heater. These models provide hot water on a continuous basis and are suitable for any home call to order insulation for water pipes. Professionals can help you choose and install the right option. However, their installation can be more difficult and expensive. If energy efficiency is important to you, this is a good option, but it is better to consult with professionals.