Payback is too long IMO. Most of the H.O.s who inquire about them realize that the cost associated with endless hot water is more than they anticipated.
A little discussed reality with tankless, the savings are more dismal when you factor in that H.O.'s change their habits as a result of having access to endless hot water. All quoted savings are based on using hot water in the same way you did prior to getting a tankless. Reality is, after a tankless, people will take longer showers, fill up the Whirlpool more often, and generally waste more hot water since the possibility of running out is eliminated.
A little discussed reality with tankless, the savings are more dismal when you factor in that H.O.'s change their habits as a result of having access to endless hot water. All quoted savings are based on using hot water in the same way you did prior to getting a tankless. Reality is, after a tankless, people will take longer showers, fill up the Whirlpool more often, and generally waste more hot water since the possibility of running out is eliminated.