I installed a tankless electric at a remote building at the museum site that my wife helps run. Building is over 100 feet from the main, tank hot water heater. Even with a well insulated feed pipe, you had to run the water for five minutes before any hot water came out - and even then - it was only luke-warm. In this case, the tankless works great. Had to run a new electric service for it, though. It's a small, under-sink 1.5 GPM unit and required a 240 volt/20 amp circuit. There was a smaller unit available that only required a 120 volt/30 amp circuit - but it did not warm cold well water enough to be useful.
In regard to tankless heaters and thermostats - most don't use them, but you can special order them that way. The most common tankless units use a flow-valve and will rise the temp of any incoming water. Higher priced thermostat-controlled units sense water temp and can shut themselves off. Also, some higher price units have low-rate flow valves so you can use them in low-flow water systems.
For years, tankless heaters were a problem when used in certain off-grid, solar-electric homes. That because they often have both low-flow water, and also preheated water from solar panels and/or wood fires.
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Today's Featured Article - Women and Tractors - More Views From the Farmer's Wife - by Teri Burkholder. The top ten reasons why the judges wouldn't let you participate in the stock antique tractor pull: Hey, this is stock! It came with that V8 in it! That "R" on my tires stands for "really old" not radial! Blue gas? We thought it was a pretty color! What wire hooked to my throttle?
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