Your faucets, showerheads and plumbing appliances use plenty of hot water. Believe it or not, the Department of Energy says that water heating is the second-largest utility cost behind space heating and cooling, accounting for roughly 18% of your monthly bill. Learn how much energy the average water heater uses and helpful tips to reduce your water heating costs.
The precise cost to run an electric water heater is based on the square footage of the unit, how much you use it, its power draw and what you pay for electricity. For example, a medium-sized, 40-gallon water heater that uses 4500 watts and is active for 2 hours a day at a rate of $0.13 per kilowatt-hour (kWh) costs about $1.17 to operate per day, which arrives at $35 per month or $426 each year.
If your water heater runs on natural gas, you need to consider the size of the unit, how much you use it, its power draw and typical costs for natural gas. For instance, a medium-sized, 40-gallon water heater that uses .205 therms per hour and is active for two hours a day at a rate of $1 per therm costs about $0.62 to operate per day, which is roughly $18.60 monthly or $226 annually.
As you can see from the examples above, gas water heaters usually cost less to run than equivalent electric models because natural gas prices are likely to run lower than the price of electricity. Fine-tune the calculations with your exact energy usage and rates to get a more accurate picture of gas vs. electric water heater costs.
Whether your water heater runs using electricity or gas, you can lower your utility costs with these money-saving tips.
Remember that every time you turn on a hot water tap, you must pay to heat it. Modify your everyday habits to lower your bills. Here’s how:
Leaky faucets, showerheads and pipes can waste large amounts of hot water. For example, one drip per second can waste as much as 1,600 gallons per year. Eliminate this waste by fixing plumbing leaks as soon as you notice them.
Modern laws require new showerheads to consume 2.5 gallons per minute (gpm) or less while kitchen faucets are limited to 2.2 gpm. A new set of bathroom faucets must have flow rates below 1.5 gpm.
You can buy quality, low-flow kitchen and bathroom fixtures for about $10 to $20 each, resulting in as much as 60% savings on water use. Try to find the ENERGY STAR® WaterSense label to increase efficiency without negatively influencing performance.
The standard setting is 140 degrees. Lower this to 120 degrees to save on water heating costs and reduce the risk of scalding at the tap. Just don’t go any lower than 120 degrees to prevent microbial growth inside the tank.
In case your water heater doesn’t have a temperature readout, determine the setting with a thermometer at the bathroom or kitchen faucet. Adjust the water heater’s dial, wait two hours and measure the water’s temperature. Repeat this process until the thermometer reads 120 degrees.
Both electric and natural gas water heaters can be insulated with insulation jackets available at home improvement stores. Be mindful to install the jacket correctly to avoid creating a dangerous operating situation. If you’re not sure how to proceed, ask a professional for help. When the tank is insulated, add insulation around the hot and cold pipes coming from the water heater to help things heat up faster at the tap.
If your water heater is getting close to the end of its life span, consider replacing it with an ENERGY STAR-rated model. A tankless water heater is a good option. This upgrade can save as much as 34% on your water heating bills by heating water on demand and getting rid of standby heat loss. Save energy and lower costs by replacing your hot water appliances with high-efficiency models, including your dishwasher and washing machine.
Service Experts Heating, Air Conditioning & Plumbing is your source for dependable, affordable water heater services in North America. Our highly trained technicians can fulfill any water heater repair or replacement request that comes our way. We offer top products from today’s best brands, including traditional tanks as well as tankless models, to suit your needs while staying in budget. To find out more, please contact your local Service Experts Heating, Air Conditioning & Plumbing office today.
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