This water heater will save you money. Made by Heatworks Model 1, the foot long device can deliver instantaneous hot water on demand. It can save 40% of energy costs and 10% on wasted water compared to an electric tank style heater.

Heatworks relies on submerged graphic electrodes that use the water around it as a resistor. This gives instant heat, and rather than the 30 second wait associated with other tankless systems.

The water heater has already past its Kickstarter goal. Check it out below: [Kickstarter]