Tips to Cut Your Water Heating Costs

This week I’m featuring Energy Saving tips, save some money by conserving energy!

Water heating is the third largest energy expense in your home. It typically accounts for about 16% of your utility bill. There are four ways to cut your water heating bills: use less hot water, turn down the thermostat on your water heater, insulate your water heater, or buy a new, more efficient water heater.

A family of four, each showering for 5 minutes a day, uses 700 gallons of water a week; this is enough for a 3-year supply of drinking water for one person. You can cut that amount in half simply by using low-flow aerating showerheads and faucets.

Water Heating Tips

• Install aerating, low-flow faucets and showerheads.

• Repair leaky faucets promptly; a leaky faucet wastes gallons of water in a short period of time.

• Lower the thermostat on your water heater; water heaters sometimes come from the factory with high temperature settings, but a setting of 120°F provides comfortable hot water for most uses.

• Take more showers than baths. Bathing uses the most hot water in the average household. You use 15–25 gallons of hot water for a bath, but less than 10 gallons during a 5-minute shower.

• Insulate your electric hot-water storage tank, but be careful not to cover the thermostat. Follow the manufacturer’s recommendations.

• Insulate your natural gas or oil hotwater storage tank, but be careful not to cover the water heater’s top, bottom, thermostat, or burner compartment. Follow the manufacturer’s recommendations; when in doubt, get professional help.

• Insulate the first 6 feet of the hot and cold water pipes connected to the water heater.

• If you are in the market for a new dishwasher or clothes washer, consider buying an efficient, water-saving model to reduce hot water use.

• Install heat traps on the hot and cold pipes at the water heater to prevent heat loss. Some new water heaters have built-in heat traps.

• Drain a quart of water from your water tank every 3 months to remove sediment that impedes heat transfer and lowers the efficiency of your heater. The type of water tank you have determines the steps to take, so follow the manufacturer’s advice.

• Although most water heaters last 10– 15 years, it’s best to start shopping for a new one if yours is more than 7 yearsold. Doing some research before your heater fails will enable you to select one that most appropriately meets your needs.

Long-Term Savings Tips

• Buy a new energy-efficient water heater. While it may cost more initially than a standard water heater, the energy savings will continue during the lifetime of the appliance. If your current water heater is electric, consider switching to a natural gas water heater if gas is available.

• Consider installing a drain water waste heat recovery system. A recent DOE study showed energy savings of 25% to about 30% for water heating using such a system.

• Consider demand or tankless water heaters. Researchers have found savings can be as much as 34% compared with a standard electric storage tank water heater.

Solar Heating
If you heat water with electricity, have high electric rates, and have an unshaded, south-facing location (such as a roof) on your property, consider installing a solar water heater. The solar units are environmentally friendly and can now be installed on your roof to blend with the architecture of your house.

Solar water heating systems are also good for the environment since they avoid the harmful greenhouse gas emissions associated with electricity production. During a 20 year period, one solar water heater can avoid over 50 tons of carbon dioxide emissions. When shopping for a solar water heater, look for systems certified by the Solar Rating and Certification Corporation or the Florida Solar Energy Center.

Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.

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