If you’ve read a blog post by our co-founder, you know that we’re committed to making affordable housing accessible to everyone. To do that, we need to keep costs down from day one. One of the easiest ways to save money is to replace your old hot water tank with a new energy-efficient model. The average cost of a new water heater is between $1,500 and $3,500, but you can expect to save between $400 and $900 every year on your water and heating bills with an ENERGY STAR water heater. Here are some tips on how you can save money on your hot water tank:
When you replace your water heater, you’ll likely buy it from a contractor or a home improvement store. You’ll want to ask them to give you a price quote, and then compare it to the prices you see online. You should also ask for written guarantees on the parts and labor, and make sure they stand behind their work. If you can, go to a dealer that belongs to a national contractor’s association. These dealers have agreed to abide by a code of ethics that includes transparent pricing and high standards of customer service.
If you’re in a rented apartment or a home that doesn’t have sufficient space for a larger water heater, a low-head or tankless system could be the right choice for you. These systems run on a simple electrical circuit, and they’re much less expensive to install. The downside is that they’ll only run when someone turns on the faucet to draw water. If you live in a household with frequent water use (like families with children), however, a low-head or tankless system could be a good fit. The reason is that a tankless system can only be activated by the flow of water, not by a faucet being turned on. If you only have occasional guests, a low-head water heater could be an ideal solution for you.
If you replace your water heater with a new ENERGY STAR model, you’ll not only save money on utilities; you’ll also be doing your part to reduce greenhouse gas emissions. But you don’t have to replace your old water heater just because a new one is more energy-efficient. You can retrofit an old model with an ENERGY STAR control, which will allow you to adjust the water temperature remotely. If you have a home with a natural gas or oil-fired water heater, it can be retrofitted with an alternative fuel control. There are several ENERGY STAR program options available to help you retrofit your water heater.
If you have an electric water heater, you may decide to convert it to a smart or self-controlled model. These water heaters can be programmed to use less energy when you’re running a laundry or a shower, and they can be operated remotely. They’ll also be easier to repair if something goes wrong. In addition to the energy savings, you’ll also be able to save money on water. If you’re in a building that has a building management system, you may be able to access your water meter remotely from your smart phone. This means you can set your water temperature to a lower setting if you’re on a budget, or if you’re a resident who’s on a water restriction.
It’s important to keep in mind that when you replace your water heater, you may also have to replace your sewer and/or drain lines. You’ll also need to hire a plumber to connect your new water heater to the incoming line. If you have a septic system, you may have to replace the septic tank, too. When you make these replacements, you may also have to pay to have your old pipes and tanks properly disposed of. If you have a new water meter installed, you may also have to pay to have that installed. If you’re in the market for a new water heater, ask your contractor about any other costs you may have to pay.
The bottom line is that you can save money by replacing your old water heater. The most efficient models are ENERGY STAR certified, and they’ll be more cost-effective than an older model. If you’re replacing an old, inefficient water heater, you’ll also be reducing your carbon footprint. These are two great reasons to replace your old water heater.