The new hot water system is being installed as I write.
The HWS being replaced is perhaps 20 years old .... so it doesn't owe us anything! It has given good service.
The new one is a "heat pump" system .... it uses the same principle as an air conditioner. The main heating is solar with the heat pump as a booster. It uses much less power than the traditional solar system. The hot water in the tank stays there .... the water we use travels through a heat exchanger. The electronics are quite sophisticated and all the operations of the pumps are recorded ... and could be analyzed remotely if desired.
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