People are talking about tankless water heaters.
Facts: Instead of wasting power to keep 30 gallons (or whatever size your tank is) of water hot all day , tankless heaters only heat water when you need it, like Air Source Heat Pumps they are very beneficial and convenient to have at home.
They also take up much less space than your typical water heater.
For more information to determine if a tankless water heater is for you, read full article here.