Air-cooled HVAC refrigeration systems are typically more cost-effective than water-cooled systems, as they require less maintenance and installation costs. Additionally, they are more compact and require less space than water-cooled systems. However, air-cooled systems are not as efficient as water-cooled systems, as they are more prone to overheating and require more energy to operate.
Water-cooled HVAC refrigeration systems are more efficient than air-cooled systems, as they are able to dissipate heat more effectively. Additionally, they are more reliable and require less energy to operate. However, water-cooled systems are more expensive to install and maintain, and require more space than air-cooled systems.