1. Turn Down the Tank’s Thermostat
For every 10 degrees that you are able to turn down your electric water heater, you can save about 3-5% on your electric bill. While most water heaters come pre-set at 140 degrees, your water tank can actually be turned down to 120 degrees and still produce the right amount of hot water for your needs.
2. Use Less Hot Water
One of the surest ways to cut down on your hot water costs is to use less of it. This can be accomplished by simply installing low-flow showerheads and faucet aerators, which can help cut your water consumption by 25-60%. Another way to cut down on hot water consumption is to set your dishwasher to economy mode. Since most modern dishwasher can handle dirty dishes, you can skip the pre-washing habit by scraping the remaining dinner contents into the green waste bin.
3. Drain the Sediment
Since tanks naturally build up sediment that can reduce efficiency and make energy savings a challenge, draining the electric water heater every now and then can help keep the tank running at the optimal level. To drain the sediment from your hot water tank:
- Turn off the water and power to the hot water tank.
- Connect a garden hose to the spigot at the base of the hot water tank.
- Point the hose at a nearby drain, carefully lifting the tank’s pressure-relief valve, and turn on the tank’s spigot. The water should begin to flow down the drain.
4. Insulate Exposed Hot Water Pipes
Insulating your hot water pipes will help the water arrive at the faucet about 2-4 degrees warmer, which means that you will not have to wait as long for it to warm up. Simply taking the time to insulate the exposed water pipes in areas such as the basement can help save energy, water, and money in the long run.
5. Insulate the Hot Water Tank
If you have an older hot water tank that is located in an unheated space, wrapping it with an insulated blanket is a simple and easy way to reduce costs. Using an insulated blanket on an older model can help cut heat loss by 25-45%, which can save 4-9% on the average electric bill.