Electric tankless water heaters provide unrivaled economic and environmental benefits to residences. There's not many home appliance products on the market that simultaneously reduce the carbon footprint of the home, save homeowners money every month and provide a boost to the value of the house—but the system does just that.

Save the environment
The United States is well known for its citizen's carbon emissions. According to data provided by the World Bank, the U.S. averages 17 metric tons of carbon dioxide emission per capita between 2011 and 2015, while the rest of the world combined averaged right around 5 metric tons.

Broadly speaking, most of the country's emission numbers stem from corporations, power plants and unsustainable, non-renewable energy use. Citizens can't stop the first two reasons, but they can certainly curb their use of resources. Many people don't even know that what they're doing is wasteful because it has been the status quo for so long.

Storage water heaters are vastly inefficient appliances when it comes down to their energy use. They consistently use double the electricity that a tankless water heater would use because the machines experience standby heat loss. This happens when warm water is called on, but never used. The system heats the water then it sits there, slowly growing tepid hour by hour. When the homeowner needs warm water again, the system uses even more energy to do so. In essence, it's doubling the amount of energy a homeowner is consuming.

Electric tankless water heaters stop excessive energy consumption in its track by getting rid of the tank. Water is heated by thermal optic sensors that activate when water passes through, which heats the water on demand and avoids the ineffective process of having to reheat water. Water heating is the second largest expense on a home's utility bill, the Department of Energy reported, meaning the difference will be immediate and perceptible.

Pad the wallet
By foregoing storage water heaters for their tankless counterpart, homeowners are saving money on the energy they don't waste due to standby heat loss. According to the DOE the switch adds up, and can mean a minimum of $100 in yearly savings on utility bills.

Electric tankless water heaters also require far less maintenance than other water heaters. Storage water heaters have an anode rod that soaks in the rust instead of letting it get to the system. These need to be changed regularly to prevent the tank from decaying. No tank means no worries about rust, and electric tankless water heaters often last five to 10 years longer than other options, according to the DOE.

New National Appliance Energy Conservation Act regulations will require storage water heaters to be made 2 inches longer and wider, meaning that homes with pre-fabricated alcoves specialized to house the tanks will have to be renovated so the new system can fit. Tankless water heaters are so small that they can fit under sinks and in cabinets, and therefore homeowners rarely have an issue finding a place to put it.

If the decision feels like a no-brainer, it's because it is. Save money, reduce pesky maintenance calls and avoid costly construction costs by simply switching to an electric tankless water heater.

The value of a home rises when it is billed as environmentally friendly.

Raise home value
Realtor.com conducted a survey in 2013 and found that an overwhelming 85 percent of respondents want to live in an eco-friendly home. Environmentally friendly homes don't just reduce a carbon footprint, but they often contribute toward more affordable utility bills. There are two winners in this situation—the home buyers, who get what they want, and the sellers, who enjoy an inflated home value for appliances they've already made back their investments on.

Sopher Sparn Architects reported that a study conducted between 2008 and 2013 found environmentally sustainable homes sold for 23 percent more on the Washington D.C. market than non eco-friendly households. With those numbers, a $400,000 home becomes $492,000. The numbers vary between state markets, such as California's 9 percent increase, but the idea stays the same. Households that have environmentally friendly appliances sell for more than those that don't.