I am wondering what is the advantage of a tankless WH. My understanding is that the new WH (tank) have much better insulation and are much more efficient. I did a little research a while ago, thinking that the advantage could be about saving space, but then I found that with the tankless WH you still need to have some clearances that basically makes you not save anything. On top of that, as somebody mentioned, the cost of the device and installation are more expensive. So I am curious about why people prefer tankless?