When Buying New Can Save You Money
Back in April of 2015, the Department of Energy changed its guidelines to compel homeowners to choose more energy-efficient water heaters. Although these changes were inconvenient to some people at the time, the energy savings resulting from these water heater regulations has put a lot of cash back in lots of wallets from savings each month. Even if you weren’t required to replace your water heater, it’s still a good idea to replace old water heaters when they are no longer efficient because it will actually save you money in the long run.
Facts About Home Energy Use
Did you know that water heaters are responsible, on average, for approximately 20% of total home energy costs? This cost is a significant part of any homeowner’s budget. Having an inefficient water heater can impact your yearly and monthly budgets. If you replace your old water heater, you could possibly cut your utility bill by 25-50%.
How to Check Your Water Heater
When checking to see if your water heater should be replaced in the near future, take these considerations into account:
- When did you buy it? Is it 10-15 years old? If so, it’s likely time to replace it, as its mechanisms are probably inefficient.
- Is your water heater Energy-Star certified? If so, you likely can keep this energy-efficient model.
- Is your existing water heater in a tight spot? If you need to replace your water heater, you might want to invest in a tankless model to ensure the new type fits well.