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What is the difference between a storage tank water heater and a tankless water heater?

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What is the difference between a storage tank water heater and a tankless water heater?

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Tank water heaters store and heat water at all times, thus incurring higher operating costs, whereas tankless water heaters only heat water as needed. In addition, tank heaters have a limited supply of hot water and will run out of hot water while tankless heaters provide an unlimited supply of hot water – you will never run out. Also, the size of a residential tankless heater is about the size of a carry on suitcase and can be installed virtually anywhere inside or outside. This will allow you to reclaim valuable space in your home.

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