The best replacement for tankless water heaters is tank water heaters.

The best alternatives to tankless water heaters are rated as following:
★★★★★  tank water heaters
★★★  tank
★★  water heaters
★★  conventional water heaters
★  gas tankless water heaters
★  standard water heaters
  hot water heaters
  boilers
  hot water tanks
  storage
  other water heaters
  electric tankless water heaters
  water tanks
  gas water heaters
  traditional water heaters

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No companions for tankless water heaters have been suggested so far.
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