If this unit is expected to plug into a standard home outlet it won't be 120V @ 30A. Typical homes are rated to 15A, 20A commercially. As far as heating efficiency, and considering the first heater will be "point of use" we can't compare to gas. Point of use heaters are electric resistive heaters and this is the most inefficient way to heat and requires much more work "amps" to heat a given quantity of water. According to how the Microwave heat exchanger is designed it should be much more efficient then the power hogs of resistive coil type heaters.
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