Tank vs Tankless

I have this discussion several times a week with prospective clients: conventional storage tank water heaters vs tankless on-demand water heaters.  This article from Builder Magazine online has a good summary of the issues.

Where will it be located and how will it be used are important considerations. If you're looking at tankless units online, don't be mislead, the installation cost is much more than a conventional water heater. That said, they cost very little to operate and are definitely appropriate in many situations.