The best replacement for tank water heater is tankless.

The best alternatives to tank water heater are rated as following:
★★★★★  tankless
★★★★  tankless water heater
★  on demand water heater
★  tankless water heaters
  on demand

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Speaking about tank water heater, one probably shouldn't forget about tankless.

Other search terms related to tank water heater and their ratings are:
★★★★★ tankless
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tank water heater
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