A tankless water heater has many advantages, including instantaneous access to hot water and year-round reduced energy use. Keep in mind the kind, flow rate, power consumption, and other factors when selecting a tankless water heater depending on the qualities that will be most advantageous for your home.
A tankless water heater can be powered primarily by electricity, natural gas, or propane. Because gas models provide more power than electrical ones can, both propane and natural gas can heat more water to the perfect temperature for less money.
The disadvantage of this is that a gas tankless water heater initially costs roughly $1,000 more than an electric heater. If the house has an electrical system capable of supporting the high energy requirements of an electric heater, the installation is more difficult.
Source: https://thehalforange.com/best-tankless-under-sink-water-heater/