Is Your Water Heater Costing You Too Much Money?

Reasons Your Water Heater is Costing You Money

A nice hot shower is worth every penny, right? Wrong! Although the luxury of hot water does cost money, you could be overpaying for your hot water heater and not even know it. With so many advancements in efficiency and features, consider if any of these possibilities are true for you, and see how you could lower the cost to run your hot water heater

Your Water Heater is Old

If your water heater has been hanging around your house longer than you have, you probably are working with an older appliance. The first thing to do if you are unsure of the age of your appliance is to check for an Energy Guide sticker on your heater or look up the model online. You can compare the cost to run the model you have with that of newer, more energy-efficient options to see if it’s time for an upgrade. Tankless and solar-powered hot water heaters are increasing in popularity due to their cost-savings. 

The Temperature is Set Too High

If your hot water heater is set to above 120 degrees Fahrenheit, you should consider reducing it. A good rule of thumb to follow is that for every 10 degrees you lower the thermostat on your water heater, you should expect 3-5% savings each month. 

You Don’t Have the Right Size Water Heater

Perhaps your water heater came with your home, or your living situation has changed considerably since you last purchased one. Either way, you could be working with either a too large or too small water heater for your space. The more people in your home using hot water regularly, the larger gallon tank you need to accommodate the usage. Check what is recommended for your living situation and adjust as needed.

You are Overusing Hot Water

Another culprit for increased hot water costs is overconsumption. If you have older faucets, shower heads, washing machines, or leaks throughout your home, you are probably wasting hot water. A hot water leak left unaddressed could rack up a considerable expense so be sure to get those types of issues addressed as soon as possible. Consider investing in low flow faucets and appliances that use hot water to save long-term on your usage. 

Hire Stephens Plumbing to Access Your Water Heater

If you are trying out some of these cost-saving measures and not experiencing any savings on your monthly energy bills, consider having an expert come in and evaluate your situation. Also, some of these suggestions may require the help of a certified plumber to swap out appliances, upgrade fixtures, etc. At Stephens, we are here to help you through all of your plumbing needs so be sure to contact us today to schedule an appointment.