The Department of Energy estimates that water heaters account for 14 percent to 25 percent of our monthly energy bill. Little wonder, since most water heaters are on 24/7.
Water heaters are often factory-set at 140 degrees Fahrenheit, hot enough to scald. The Department of Energy says most of us can live comfortably with 120-degree water. You can save 3 percent to 5 percent on your water heating costs for every 10 degrees of setback.
To save even more, you can reduce hot water use with low-flow showerheads and faucet aerators, jacket the heater and wrap hot water pipes to minimize stand-by heat loss.
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