If your home is like most, you and your family are using about 64 gallons of water each day. If your water heater is electric, that probably accounts for about 18% of your power bill. That makes your water heater the second-largest energy expense in your home. So, why not use less electricity to heat it?
Today’s high-efficiency water heaters use much less energy than older models, so you won’t need to give up comfort for energy savings. That’s good news for your power bills.
Now, there’s a new kid in town: an electric heat pump water heater. These units give you the hot water you need by pulling heat from the surrounding air to heat the water — like a refrigerator in reverse.
Because they do not directly produce heat, electric heat pump water heaters are two to three times more energy efficient than standard units. According to the U.S. Dept. of Energy, a family of four can save about $350 a year on water heating costs, which adds up to $3,750 over the lifetime of the unit.
A heat pump water heater may cost a bit more upfront than you’d pay for other models. However, most people see a payback in less than three years due to the unit’s lower operating costs and energy savings. That’s according to the U.S. Dept. of Energy. Be sure to look for the ENERGY STAR rating.
Tankless electric water heaters are another option, but think about these things before buying: While these smaller units quickly heat water to provide it when called upon, they can use 8 times more electricity at one time than a standard water heater. This high demand increases your cooperative’s cost of purchased power, which plays an important role in how much you pay for electricity. In some cases, people who use electric tankless water heaters have to upgrade the home’s wiring to support the huge demand for electricity.
Before you buy a new water heater, speak with West Florida Electric Cooperative’s (WFEC) trusted energy advisors about your choices.
Other ways to lower your energy costs include setting your water heater’s thermostat to no higher than 120 degrees Fahrenheit, fixing leaks, installing low-flow fixtures and using an energy-efficient dishwasher and washing machine.
We’re sharing ways to help you save energy and money. It’s another way your hometown electric cooperative is always here for you.
Always here for you
Considering a tankless electric water heater?
They can require 8 times more electricity at one time than a traditional model.
increases your co-op’s cost of purchased power.
That’s a key factor in how much you pay for electricity.
Discuss options with our energy experts.