Info regarding Tankless Water Heaters

My husband, whom I call Mr. Consumer, just informed me, that we would not be replacing our water heater with the "green, energy efficient, money saving" tankless water heater. He did his research, called people, talked to plumbers, the whole gamut. Here is what surfaced from his research.

It takes 22 years to get your money back on a tankless water heater. The average cost for the unit is approximately $3,000. plus installation, in some cases. But here is the kicker - the life span for the middle of the road units as mentioned above only lasts approximately 17 to 19 years. I would say it isn't a very wise investment.