Worth the Hype? Tankless water heaters have been the subject of much home improvement buzz lately. But are they worth the hype? These on-demand water heaters heat water instantly and eliminate the need for a large storage tank. Furthermore, they vastly reduce the standby energy losses associated with continually maintaining a tank full of hot water. Additionally, most tankless water heaters have a life expectancy of around 20 years which is much longer than conventional model