Do you want the hot water to come on as soon as you turn on the faucet? It might seem like it would be an impossibility, especially considering that in most homes, the water has to travel from your water heater through many feet of pipe before it reaches the faucet, but there is an alternative to conventional tank water heaters that will actually deliver near instantaneous hot water to your faucet. It is called a tankless water heater, and if you have a unit installed by your faucet, it will deliver hot water in a fraction of a second.
Tankless water heaters can be installed in a central location to heat water for the entire home as well, so your choice depends on what scenario you’re looking at.
A tankless water heater doesn’t draw any power when the water isn’t running, so you will have a great saving when compared to a conventional, tank water heater.