While the process of installing a tankless water heater isn't too difficult it is very different from the process of installing a standard tank water heater. The process is more in depth for a tankless water heater system. It is very important that you read through all the instructions and follow them exactly as they are outlined. This is for the safety and security of your home and your family.
Before you start you need to make sure you have sufficient space for the tankless water heater you will be installing. While they do take up considerably less room than a tank style water heater you still need to verify you have enough clearance room for it. The unit also can't be touching a wall so you may need to install brackets. You will need to make sure it is not installed around any flammable surface at the outer part of the water heater will get very hot.
You need to make sure you are upgrading to a tankless water heater that operates on the same type of energy source. If you currently have a gas system then purchase a tankless water heater system that also operates on gas. It is very difficult to change the wiring or pipes needed to convert from one system to another. The process is much easier if you keep the same type of energy source as you will only need to deal with a few fittings or electrical connections. For more info see http://www.etanklesshotwaterheater.com/waterheater/refurbished_tankless_water_heater.html
A very important issue that needs to be addressed is venting. A water heater with a tank doesn't require it, but this is essential with a tankless water heater system. It works very similar to a clothes dryer. The heated air has to be able to escape somewhere so the unit has to be installed where there won't be a build up of moist, heated air. This can be very dangerous to the occupants in the home as well as result in your tankless water heater not working properly.
You can also find more information at bosch tankless and tankless water heaters.
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