Very common over here these days. In my state you can no longer install a standard Electric Tank if there are other options available (Natural Gas, Solar, Heat Pump)
They are a bit slower to recover than an electric tank, but can operate down to -5C (This lengthens the recovery time) For that reason they reccomend you oversize the storage volume to keep up.
Our Electric Heat exchange tank is a bit over 20 years old, we dont have the space outside for a Heatpump or Gas hotwater tank to go, so we'll have to go with solar when the current one dies.
To think of its efficiency, its like comparing Heat Pump central heating to resistance electric heating, it is significantly cheaper.