As you can see from this link there are alot of tankless water heaters being made like you said. <a href="http://www.alibaba.com/trade/search?Type=SALE%2CAGENT%2CMISC&year=&month=&location=&keyword=&SearchText=tankless+water+heater++electric&Country=&srchLocation=&srchYearMonth=&IndexArea=offer_en&CatId=0" target="_blank">http://www.alibaba.com/trade/search?Type=SALE%2CAGENT%2CMISC&year=&month=&location=&keyword=&SearchText=tankless+water+heater++electric&Country=&srchLocation=&srchYearMonth=&IndexArea=offer_en&CatId=0</a> I hope they update their website soon. They show no products. Oh well this is one I will put on the back burner for future Due Diligence.