Replacing an Old Hot Water Heater? Consider Buying an On-Demand Heater.
You still may have to wait for water to flush through the pipes before the warmth hits your shower but you will no longer be heating water in a large tank and running out when you are the last of 6 showers taken in the am.
Check out some of these reasons why to go tankless.
However it is NOT for every climate and household…In some cases the cost may out-weigh the benefit…go into it with your eye open.
Food for Thought Blog Post – written in 2007 – with a follow up in 2011
Consumer Energy Center – various options to consider