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The less insulated your water heater is or the colder the climate you live in, the more an insulated water heater jacket can save you. Even with a newer, better insulated tank, a blanket can offer some savings. It's estimated that with the typical tank, a cover can save you up to 17% on your energy bills.
Thereof, how much money does a water heater blanket save?
If not, consider insulating your water tank, which could reduce standby heat losses by 25%–45% and save you about 7%–16% in water heating costs—and should pay for itself in about a year. You can find pre-cut jackets or blankets available from around $20. If you don't know your water heater tank's R-value, touch it.
Similarly, you may ask, do water heater timers really save money?
The amount of money that your water heater timer will help you to save depends on the standard running cost of your water heater, the water heater and fuel type, and your hot water consumption. Water heater timers have been found to save up to 25% on the annual costs of water heating.
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