Propane tankless water heaters provide comfort, versatility, convenience, and efficiency by supplying high volumes of hot water. Plus, with technology that operates only when hot water is needed, no pilot light, and no storage tank, you save on energy and utility costs. In fact, a tankless propane water heater can save more than $150 a year when compared to a typical electric storage water heater. And a propane tankless water heater is greener as well, producing roughly half the CO2 emissions of an electric unit.