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For hot water tanks that have higher energy efficiency rating, they typically cost more up front for a $20+ annual savings (depending on size and rating). These tanks can cost $50 to several hundred dollars more.
I can buy an insulation blanket for $20-$50, and wrap a lower efficiency rating tank.
Anyone know how efficient these blankets are, and which is better in the long run, cost wise?
The first few feet of the pipe coming out of the tank are more of a heat loss in a modern storage water heater than the tank itself. Spend your money on insulating that first.
For hot water tanks that have higher energy efficiency rating, they typically cost more up front for a $20+ annual savings (depending on size and rating). These tanks can cost $50 to several hundred dollars more.
I can buy an insulation blanket for $20-$50, and wrap a lower efficiency rating tank.
Anyone know how efficient these blankets are, and which is better in the long run, cost wise?
For modern units, even a current minimum federal DOE standard 0.58 energy factor model, an insulation blanket won't do much to increase its efficiency. Personally, I think a 0.62 energy factor model offers the best balance between price and efficiency for tank units. The price significantly increases if you try to go to an Energy Star qualified unit with an energy factor of 0.67 or higher, because they typically incorporate features such as power venting or automatic flue dampers, plus the Energy Star label itself adds to the cost. In fact, prior to September 2010 when 0.62 energy factor models qualified for the Energy Star label, they were significantly more expensive than standard 0.58 EF models. Once the Energy Star requirements were increased, the price of 0.62 EF models dropped significantly.
Note that for 50 gallon units, starting next year the minimum federal standard for energy factor will increase to 0.60.
The first few feet of the pipe coming out of the tank are more of a heat loss in a modern storage water heater than the tank itself. Spend your money on insulating that first.
Thanks, but that is the water that goes to the shower/sink fixtures, correct? I am trying to drive down expense of the hot water tank itself. My 80 gallon electric tank has an energy guide of $607/yr. It has a 0.87 energy factor, not sure if wrapping it in a blanket will do any good, the outer shell of the unit is slightly warm, so I don't think it's losing a lot of energy.
In our condo, I'm about to replace a 50 gal gas tank, the rheem at HD has a .62 energy factory at a cost of $262/yr. I didn't realize how much cheaper it is to operate a gas furnace! I just compared an electric 50 gal vs. 80 gal, and energy guide isn't that much different at all!
Thanks, but that is the water that goes to the shower/sink fixtures, correct?
No your pipes are attached to the tanks, those will draw heat out of the tank like a radiator. Touch the part of the pipe closes to the tank and it's going to be really hot all the time and taper off the further along it is. Harry only mentioned insulating a few feet but If you insulate the whole thing right to the outlets that water will stay hot inside the insulated pipe for a long time negating the need to run it for long periods saving both water and heat.
In our condo, I'm about to replace a 50 gal gas tank, the rheem at HD has a .62 energy factory at a cost of $262/yr. I didn't realize how much cheaper it is to operate a gas furnace! I just compared an electric 50 gal vs. 80 gal, and energy guide isn't that much different at all!
I just moved into a 15 year old condo a few months ago that uses propane for heating water. My neighbors monthly bills during the summer for propane run between $20 - $25. The former owner of my condo replaced her water heater with a Rinnai tankless water heater in 2007. My propane bill has been a little over $6 a month. I am sure a tankless water heater is far more expensive to install, but, I am really glad I am reaping the benefits of her decision to go tankless.
I am sure a tankless water heater is far more expensive to install, but, I am really glad I am reaping the benefits of her decision to go tankless.
Mary2014
Yes, the technology for saving money on tank-type water heaters has reached the point of diminishing returns. The new 'on-demand' tankless units are far more efficient, and much less costly to operate.
We are off-grid (meaning, electricity is at a premium) and we do have a propane-fired tank-type heater. Most of the costs associated with tanks is the need for the unit to continually heat that water, all day and all night, when it is used for 2 hours or less per day. We have installed a timer on our tank, which keeps it OFF for all but 2 hours each morning. It automatically begins to heat the water while we are still asleep, and we take showers, run the washing machine, etc during that time frame. This not only saves power, but saves propane.
Another factor to consider is the temperature set on the tank. If you find that the water is scaldingly hot when you forget to add cold water, you can save a lot of $$$ by lowering that temperature. The factory setting is virtually always much too high. Why waste hot water by diluting it with cold water?
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