Your faucets, showerheads and plumbing appliances consume lots of hot water. In fact, the Department of Energy states that water heating is the second-largest utility cost behind space heating and cooling, accounting for roughly 18% of your monthly bill. Find out more about how much energy a typical water heater uses and helpful tips to reduce your water heating costs.
How Much Electricity Does an Electric Water Heater Use?
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 requirements and local costs for electricity. For instance, a medium-sized, 40-gallon water heater that needs 4500 watts and is active for just two hours a day at a rate of $0.13 per kilowatt-hour (kWh) costs about $1.17 to work per day, which approaches $35 per month or $426 each year.
How Much Natural Gas Does a Gas-Fired Water Heater Need?
If your water heater runs on natural gas, you have to consider the size of the unit, how much you use it, its power draw and the price for natural gas. For example, a medium-sized, 40-gallon water heater that uses .205 therms per hour and is active for two hours per day for a price of $1 per therm costs about $0.62 to operate per day, which is roughly $18.60 each month or $226 annually.
Gas vs. Electric Water Heater Costs
As you can conclude from the examples above, gas water heaters typically cost less to use 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 build a more accurate picture of gas vs. electric water heater costs.
Tips to Reduce Your Water Heating Bills
Whether your water heater runs on electricity or gas, you can cut your utility costs with these money-saving suggestions.
Revise Your Hot Water Habits
Keep in mind that each and every time you turn on a hot water faucet, you must pay to heat it. Modify your day-to-day habits to reduce costs. Here’s how:
- Take quicker showers.
- Only use the dishwasher and washing machine with full loads.
- Minimize pre-rinsing dishes before loading them into the dishwasher.
- Launder your clothes in cold water whenever possible.
Seal Plumbing Leaks
Leaky faucets, showerheads and pipes can waste large amounts of hot water. For instance, one drip per second adds up to more than 1,600 gallons each year. Eliminate this waste by repairing plumbing leaks as soon as you identify them.
Install Low-Flow Faucets and Showerheads
Modern laws require new showerheads to consume 2.5 gallons per minute (gpm) or less while kitchen faucets are limited to 2.2 gpm. New bathroom faucets must have flow rates below 1.5 gpm.
You can find quality, low-flow kitchen and bathroom fixtures for approximately $10 to $20 each, resulting in as much as 60% savings on water use. Look for the ENERGY STAR® WaterSense label to increase efficiency without negatively impacting performance.
Turn Down the Water Heater Temperature
The standard setting is 140 degrees. Lower this to 120 degrees to save on water heating costs and minimize the risk of scalding at the tap. Just don’t go any lower than 120 degrees to discourage microbial growth within the tank.
If 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 reaches 120 degrees.
Add Insulation
Both electric and natural gas water heaters can be insulated with insulated jackets available at home improvement stores. Be careful to install the insulation correctly to avoid creating a dangerous operating situation. If you're unsure how to proceed, ask a professional for help. After the tank is insulated, add insulation to the hot and cold pipes coming from the water heater to help things heat up faster at the faucet.
Buy More Efficient Equipment
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 producing hot water on demand and cutting out standby heat loss. Save energy and lower costs by replacing your hot water appliances with high-efficiency models, including your dishwasher and washing machine.
Schedule Water Heater Services with an Expert
Matz-Rightway 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 work with top products from today’s best brands, including conventional tanks as well as tankless models, to suit your needs while staying within budget. To learn more, please contact your local Matz-Rightway office today.