So: if you're running the models on your own machine, presumably you're not running them as often, and air cooling is sufficient. But, at the same time, this is less efficient in terms of hardware use; the data centers need water cooling specifically because they're getting more bang from their buck from their hardware, by running their hardware harder.

So that's the tradeoff: more hardware-use efficiency means more water usage.

On the energy front, I assume less efficient, but I also think there is a tradeoff in efficiency versus freedom, that's why I have my own hardware.