I'm new to the board. My water heater works perfectly fine, but to the best of my knowledge, the water heater that I have is the original one to the house (1987). FPL (Florida Power & Light) will be raising our rates 16% next month on top of the already ridiculous fees they've been charging us for hurricane repair costs. I pay on average about $160 dollars a month (factored on average between Summer and Winter months). To most of you, that may seem extremely high, but believe it or not, my power bill is substantially lower than most of my neighbors and most of my friends. The majority of the people in this neighborhood pay over $200 a month. FYI, all my lightbulbs are compact flourescent, etc etc...
Anyway, I was seriously considering going with a tankless water heater until I realized that the costs would be substantially more.
Now, considering the age of my water heater, I'm assuming that it's probably no where near as efficient as it could be. The water heater is ALSO located inside the house and every time I walk by the hallway where it's stored (behind vented doors) I can feel heat coming off of it which I'm sure affects the cooling in my home.
Looking at my unit, it says that it costs $349 per year to operate at .06 kwh.
Is that decent? Or should I consider a new water heater? If I know it will save me $100 bucks a year, I would go for it right now (I could swap it out myself too).
The thing I'm wondering is... it's probably running ALL the time considering the fact that it sits in an air conditioned space (rather than in the garage or something). Since we have solid concrete slabs (and all the piping is run through those), there's not a chance in hell that I'm going to re-locate it to the garage.
Any thoughts? What is a REALLY good, energy saving 40 gallon water heater?