In recent years, solar water heating technology has got the major importance in water heating applications. For the efficient and effective working of solar water heaters, storage of the hot water is the main issue in this water heating technologies. This paper mainly presents the exergy and efficiency comparison between the solar flat plate water heater and evacuated tube water heater. A five level stratified thermal storage tank is designed and developed for this analysis. At each level of the tank, temperature of the water is collected for each one hour interval from 9:00 to 16:00 hours in both cases and the overall exergy and efficiency of the two water heaters were calculated. The average efficiency of all the levels for flat plate and evacuated tube collectors are 7.91% and 8.20% respectively. The overall system efficiency is obtained as 39.54% for flat plate and 41.00% for evacuated tube solar collector. At each level exergy is calculate for both systems and the average exergy of all the levels for flat plate collector is 4.243 kW and for evacuated tube solar collector is 4.371 kW.