The utility bill savings of a tankless water heater can be significant—up to 50 percent off the cost to run a standard full-tank water heater. That makes them a great choice to consider with both new construction or an upfit of an existing water heater. But tankless water heaters have their own considerations, including flow rates per minute and how far the hot water has to travel from the heater to the spigot or appliance. There’s a tankless water heater for just about every application, but not every tankless water heater works for each situation. When you’re ready to save cash on your next hot shower, there are three things to consider when dialing in on a tankless water heater.