How to Save Money from Your Water Heater

There are quite a few ways that you can save some money on your water heater. For instance, insulating a water heater or covering it with an insulating blanket can dramatically reduce the cost of heating water. It’s cheap and easy to do yourself in just a few minutes time. Another great way to save money on your water-heating bill is to install a timer. The timer is set to turn on the water heater at times of peak use (daytime), and turn off when it is not used at all (nighttime). You can re-coup the cost of the timer in just a few months of savings. In some cases, simply turning down the thermostat can be used to save money.

Water heaters come pre-insulated but you can always add more insulation. Insulating your water heater is a great way to save money. Even if your hot water heater is in an insulated location, you can still gain efficiency and save money by insulating it. You can purchase an inexpensive water-heating blanket, or cover from most home improvement centers and hardware stores. If your into doing it yourself, then you will need some faced fiberglass insulation (about R-11 or 13 is sufficient) and some duct tape to insulate your water heater cheaply and efficiently.

To insulate a water heater yourself, cut some faced insulation into strips the length as the circumference of your water. Wrap them around the water heater horizontally and secure them in place with duct tape. Cut out around any pipes, control boxes, or switches. Cut a piece for the top and cut around the electrical lines and pipes. If you have a gas water heater, leave the top exposed, and at least 2-inches from and source of ignition. Tape all the joints and seams.

Insulating the hot water pipes should be done if the pipes travel through un-insulated areas of the home, such as under the house. Using prefabricated foam pipe covers works very well and they can be modified to fit any bend or twist your pipes may take as they travel around your home. Just tape up each seam with duct tape.

Installing a timer for your water heater saves money when you’re not using the hot water. By turning off the water heater at night when it’s not in use can save enough money in a few months to pay for the timer. While a timer is not that expensive, it can cost quite a bit if an electrician is needed. With a few tools and a small sprinkler timer, you can easily install the timer yourself.

If your water heater always has hot water and doesn’t run out when you take long showers, then you can simply turn down the thermostat on your water heater. Open the cover on the bottom or middle of your hot water heater, and adjust the dial. Just don’t adjust it to low. Around 120 to 115 degrees is the lowest you want to go. Anything less than that can cause the water heater to run more than usual defeating the whole purpose of saving money. It also might cause damage to your thermostat.