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Can a tankless water heater be installed in the same place as my old tank water heater?

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Can a tankless water heater be installed in the same place as my old tank water heater?

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Tankless water heaters are compact and easy to install. In an indoor setting, we recommend you install a Direct Vent (DV) unit. Paloma tankless water heaters can be installed in a utility room, garage, basement, attic or, ideally, on an outside wall. Rather than taking up useful floor space, a tankless water heater is mounted on a wall. A digital temperature control can be mounted next to the unit, or in any room.

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