(BPT) If you’re one of the many homeowners renovating your house this year, you’re likely looking at a wealth of new products and features that could add beauty and/or functionality to your lifestyle.

Thanks in part to our trend of spending more time at home, a significant 59% of U.S. consumers will reallocate part of their pre-pandemic budgets toward home-improvement this year, according to a report by the Joint Center for Housing Studies of Harvard University. For many, that will mean upgrading their bathrooms (or adding new ones) to add comfort, versatility and/or efficiency.

One improvement to strongly consider if you’re designing or improving a bath is a switch to a tankless water heater. You may not be aware of these handy, compact and highly efficient appliances, but they’re already a staple in commercial spas and in homes across Europe and in Asia because they provide such a multitude of perks.

Switching out your conventional, storage-tank-type heater could provide a number of attractive benefits you may not have considered, which is why these modern and highly effective new tankless systems are growing so much in popularity. Here’s a round-up of the top six advantages.

Tankless heaters save energy. Rather than maintaining large, continually heated water supplies, tankless heaters are specifically engineered to heat input water only on demand, as you turn on your hot-water tap or shower. Between uses, they automatically shut down and stop using energy. Impressively Thermalux, a new and fast-emerging tankless heater brand, is credited with helping reduce up to 118,000 tons of CO2 emissions a year.

Tankless heaters ensure you never run out of hot water. Because you’re not storing your hot water supply, there’s no risk of running out if everyone in your household uses it at the same time. With the right-sized system for your home, you can access unlimited hot water all day, every day.

Tankless heaters take up less space. Despite their added power, tankless units are significantly smaller than the large, bulky conventional tanks that may be taking up unnecessary space in your home. Sized and shaped like a small suitcase, tankless water heaters are compact enough to be hung on the wall in your utility room, garage, attic, basement or closet to optimize the room you have for other amenities.

Tankless heaters maintain cleaner water. Because tankless heaters provide your water only on demand, they serve up fresh, clean water only as you need it. If you have hard water, you can alleviate scale build-up and maximize the longevity of your tankless system through regular water treatment and a simple annual descaling.

Tankless heater installation may come with tax credits or rebates. Since many local, state and federal agencies support the energy-efficiency of these compact machines, they offer various rebates and tax credits upon installation (see energystar.gov for more info). That could add to the savings you can expect over time as a result of reduced energy bills.

Tankless heaters are available for shipment now. In many cases, the materials and appliances needed for new construction and remodeling projects are on backorder right now due to supply chain issues. Happily, tankless water heaters are not subject to those hold-ups and are readily available for your renovation project; just go to Amazon or Home Depot online to see the excellent selection offered by top manufacturer Thermalux.

With smart design, remodeling can add years of functionality and enjoyment to one of the most-used rooms in your home. Consider how a tankless water heater might be part of your improvements as you move forward with your bathroom renovation (or bath addition) plans.