No. Plus you need to get them serviced annually as well. My dad looked into one and the payback was around 10+yrs. The same company sold both on demand systems, gas tanks and electric tanks, and explained the costs associated with each one. Gas tank was replaced with a new electric model
Someone lost their shit a few months back when I bumped another thread about them.
Kinda surprised that a new electric tank came out on top over a new gas tank. But I have not looked to closely at the numbers for awhile.
We have a gas tank and an older gas furnace now, when we reno the basement they'll both get moved east about ten feet. I like the concept of on-demand hot water for saved space and potential some energy savings. Hard to swallow a big upfront cost, especially when it will be coupled with an extensive reno.