If “lower monthly bills” is on your New Year’s wish list, your water heater deserves a closer look. After all, hot water quietly powers a lot of daily life—showers, dishwashing, laundry, handwashing—so when your system is outdated or inefficient, it can drain your budget without making much noise. Upgrading to a high-efficiency water heater, especially a tankless model, is one of the most practical home improvements for cutting costs while boosting comfort.