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How do instant “tankless” hot water systems work, and are they helpful in conserving water?

While limiting wait time these may or may not help with water conservation. These can be installed with gas/propane or electrical connections. They do not require a tank for storing and maintaining hot water. Water is heated instantly and on demand only, eliminating the need to store and constantly heat water. Tankless water heaters can provide an endless supply of hot water which means the capacity of your water tank does not limit the use of hot water.