There are two primary things to consider when choosing a new water heater: size and energy efficiency. Choose an energy-efficient system that provides enough water for your family. That said, there are plenty of water heaters available in the market, from conventional storage water heaters that offer a ready reservoir of hot water to tankless and solar water heaters. The one that's right for you will depend on several factors, which is why you should consult your local HVAC contractor. They'll go over the pros and cons of different systems with you and help you make the right choice for you and your family.