About 20% of the energy used by the average home is from water heaters, dishwashers, washing machines, showers and baths. Saving money on your hot water costs doesn’t mean taking a cold shower. New water heaters are far more energy efficient than older models. A new energy efficient top tier water heater will provide hot water at a much lower cost and are insulated better to reduce the cost of storing your hot water.
Check the serial number on your water heater typically the first 2 digits are the year the unit was made. If your water heater is more than 10 years old the savings in your yearly energy costs may pay for the replacement of your water heater.