We have gas for hot water and fireplace and heat in the winter time. In the summer we shut off the fireplace, but the gas company charges a minimum regardless of whether you use gas or not. Prior to the new gas hot water heater, in the summer, our bill was $15 a month. Now with the gas water heater, in the summer, it is just about $3 a month more. Bottom line, I am paying $3 month for hot water (this is where we live, YMMV). No, I will not convert to tankless.