Electric tankless water heaters anyone?
Do a search in this forum for tankless or on demand water heaters, there should be several posts. Every house is different and so are the homeowners' needs so there is no black/white answer. That being said, I live over a crawl space so the old gas tank heater took up a lot of room on my 780sf first floor, not to mention the exhaust vent. I replaced it with an electric tankless and couldn't be happier.
I bought a Titan for $250, max draw is 54amps, our house only has 100amp service and I've never had an issue. I live in Michigan, don't know how elec. costs compare, our bill only went up $15/mo. My gas bill dropped that much so I'll call it a wash. Granted, we have no kids, just my wife and I, so we can use common sense and not run the dishwasher and washing machine while someone's in the shower... the output isn't high enough for all that. For a big house and multiple points of use running simultaneously electric wouldn't be my first choice. For space savings, you can't beat it.