heating water with?

I am building a home and am deciding on the hot water source. Our home will most likely be all electric. I was pretty fixed on a tankless water heater (electric) but a friend has two newer and efficient tank heaters with a timer to allow heating only at night when electric rates are much cheaper. So now I am no so sure. Any wisdom that could be spared is welcome.
Keith
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Consider solar also.
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On Sun, 7 May 2006 20:48:29 -0600, "Hobbs Family"

It depends upon the electrical and gas costs for your area... For most people, gas is cheaper... If you want to have an outdoor gas grill, it's nice to have natural gas available and not have to resort to 20 lb tanks of LPG... Personally, I would suggest that if gas is available, have it installed... I prefer a gas range to an electric one... My current house has a gas range, but an electric oven... Good enough, I guess since it only gets used for making garlic toast and the occasional batch of frozen chocolate chip cookies... One major advantage of gas is that during periods of severe storms, it is significantly more likely to stay on than electricity... Being located on the Gulf Coast, that's a significant concern for me...
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The timer is a good idea. Solar water heating is better.
Nick
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Does such a thing even exist for a whole house? It would take one hell of a lot of current to heat water instantly to supply anywhere near the simultaneous worse case demands of a house. Also, it was indicated that the electric rates are cheaper for off peak water heating. Usually they are significantly less and that is likely the deciding factor which would make an electric tank type the best choice.
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Tankless are the most efficient, you only heat what you use, but why electric, electric for most of the US is still 50% more then Ng.
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