I have a water heater timer and it's saves me about $30 a month. Now my electric rates are high so you might not get the same result, but it does make a difference. Even my electric company suggests the timer. I have a good insulation (and my heater is small) so I put it on for 2 hours in the morning and 2 hours in the afternoon.(and I'm alone) Even 6 hours after it been turned off I still have hot water. The only time I need more is when I do heavy laundry, no big deal, just turn it back on. ... View related article.
