In terms of energy efficiency standpoint the on demand heaters and indirect systems are equal.
Tankless coil vs indirect water heater.
In fact due to their small size tankless water heaters can be mounted on the wall.
The most obvious difference between an indirect and tankless heater is the existence of a tank.
Can be used in any climate and the fuel sunshine is free and a renewable resource.
Oil gas electricity propane solar energy or a combination of any of them can fire the indirect systems.
Indirect water heaters can be powered by electricity gas solar or a combination of these.
However tankless heaters usually run off on either gas propane or natural gas or electricity.
50 more efficient than gas electric water heaters.
May require a backup system for cloudy days or high demand times.
On the other hand tankless systems are oil electric or gas fired.
Tankless coil water heaters are most efficient during cold months when the heating system is used regularly but can be an inefficient choice for many homes especially for those in warmer climates.
Tankless water heaters compact in size take up less space than tank style water heaters.
A tankless coil water heater provides hot water on demand without a tank.
Also by providing hot water only when it is needed tankless water heaters waste less water and eliminate standby losses associated with maintaining a tank full of hot.
Meanwhile an indirect heater can provide unlimited hot water per minute up to as many gallons as the tank can hold.
Indirect water heaters are a more efficient choice for most homes even though they require a storage tank.