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Saving Money On Water Heaters

Updated: 9/27/2023
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13y ago

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Replacing a water heater is often an emergency repair. When the water heater is leaking or failing to provide hot water, simply getting the hot water back on becomes such a high priority that little thought is given to making the best choice for a replacement. Some advance planning can help you save money.

There are two ways to save on heating the water in your house. You can get the best buy on the water heater, itself, and you can save on the continuing cost of energy to heat the water you use in your home. Your water heater will fail eventually so being prepared to make a cost-effective decision when it does is important.

The cheapest available water heaters are rarely the best deal. Look for water heaters that are rated to last for a longer time. Your initial cost may be a little higher, but you will save money and inconvenience when the water heater continues to operate long after the cheaper one would have stopped working. Self-cleaning water heaters reduce sediment and lime that may cause a water heater to fail or operate less efficiently. Better insulated tanks will lose less heat and save you money on your energy bill.

Choosing the right size for your water heater is also important. Storing more hot water in a tank that is larger than you need can be costly, but not having hot water at the tap due to a tank that is too small diminishes your quality of life. Your utility company may provide calculators to assist you in finding the right size water heater tank for your home.

If you have an interest in long-term energy savings, you may want to take a look at tankless water heaters. These systems save energy by only heating water when it is needed. They don’t waste energy by storing water and keeping it continually heated. However, the installation costs of a tankless system are significant. In some cases, you may need to make extensive changes in your home’s Plumbing. It may take years before you save enough on your energy bills to offset the price of installing the system.

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