When you need hot water, you might not think much about it, but the water has to travel quite some distance to get to your faucet. There is going to be heat lost along the way, and you will have to wait until your water gets hot, which is a waste. Your water heater will need to keep working, whether you are using the water or not, so that too is a waste. Is there anything you as a homeowner can do to minimize the waste?
The answer is to get a tankless water heater. This device can replace a regular water heater and do the job much quicker and with less waste. You can install them right near your faucet, and they will only run if you turn on the hot water. While it is going to cost you extra to get these installed, you will start saving money on your energy bill immediately. Just consider how much time your water heater spends running just to keep the water in the tank hot. If you want to get tankless water heaters installed, check with your plumber if he can help you get it done.