My water heater rusted out and my chiropractor mentioned they now have electric on-demand water heaters. I found one on the web that was reasonably priced (about twice the cost of a regular heater) and am now the owner of a Stiebel Eltron Tempra 29 tankless water heater. Notice the three power cables going into the bottom and the sub-panel behind my grand-daughter. When it's on it uses three 220 volt 50 amp circuits. When it's off it uses only the trickle of power necessary for the temperature readout LED.
You can find out all about me (that I want you to know) at my webpage: here
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