The most energy efficient electric storage tank hot water system is called a heat pump. Heat pumps use heat from the surrounding air to heat the water instead of an electric element. This uses much less power and therefore costs less to run.

Electric storage tanks generally last between 8-12 years, this life can be prolonged with routine maintenance.

Electric storage tanks have many benefits: Unlike a gas hot water system, there is no flue required. This makes electric storage tanks ideal for apartment buildings or compact house as they can easily located inside. Electric storage tanks have a constant water pressure, there is no need to slow the water to give the heating element enough time to heat it as it is already heated. Storage tanks are able to service multiple fixtures at once. Electric storage tanks are very simple in design only have a few components to heat the water, this makes maintenance and repairs very straight