From what I have been informed on (since I am not an expert) for my home I would be better off to use smaller individual tankless hot water heaters that give instant hot water when the valve is opened. In my home I would have to replace my panel with a 400A in order to accommodate that 150A Rheem tankless water heater. This is why I am sticking to my 80-gallon hot water heater.

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You would need to do a demand load calculation to see if the existing service can support the tsnkless. You may need a second 200 amp service. This could add thousands to your costs before you see any savings. Is gas available?

 

Gas tankless = smile Electric tankless = many dollars

You choose

 

Stick with a tank type......unless you need unlimited hot water.
Is space an issue for you? Or are you believing the hype about "saving money" with a tankless?

 

Um, tankless actually do take less energy for the same amount of water. Both electric tankless and tanked are 100% efficient. The difference is the tanked is constantly losing heat through the insulation, and having to run the heating element periodically to maintain temperature. That doesn't happen with the tankless. Simple physics.

However the insulation is pretty good, and the losses aren't a lot.

What is expensive with tankless is the electric service to run it. With 150A of service dedicated just to the tankless, it means getting 400A service for a house that could otherwise use 200A. That is expensive enough that realistically payback will never happen.

Now, if you want to get that tankless on a 200A service, first you will need to put the EVSE on a load-shed device so it drops out when the heater runs... and then, you'll need to have an all-gas house with a modern mini-split.