My wife and I want to replace our existing water heater with a tankless water heater to free up storage space. Our condo has very little storage space and currently our water heater blocks a huge (relatively speaking) storage space, the area under our stairs. The only way to access that area is to move the water heater and tankless is the best (only?) option. Unfortunately we do not have gas service, only electric. So is it possible to get an electric tankless wh that will supply our whole house (2 BR/2.5BA, DW, WM, etc...) while using multiple applications?
I know that going tankless would involve upgrading the wiring to the water heater which I am prepared to do. What I don't know is A) can my electric service (240 volt) handle a multiple application TWH or would I have to upgrade? How much would that cost? B) What kind of upgrades will I need to make to my electric panel to accommodate the upgraded wiring?
I am new to all this so please go easy on anything that doesn't make sense here... most of it doesn't make sense to me, thatís why I am turning to this forum.
I appreciate your help!