The home my wife and I bought 6 years ago has a propane tankless water heater installed (no natural gas where we live). The biggest drawback I found is that it takes along time to get hot water even though my kitchen faucet is about 10 feet of pipe and the main shower about 15 feet of pipe from the water heater. I was working at a customers house which has a tank water heater (natural gas) with a circulation pump on it, you turn the kitchen faucet on and the water is hot in two seconds! Can a new electric tank water heater be more efficient then my tankless propane heater?