Hot water
Electric Water Heater Cost Calculator
Estimate the monthly and yearly electricity cost of an electric tank water heater from its power and daily runtime.
Use the nameplate, manual, energy label, or a plug-in power meter.
Find the all-in rate on your bill, or divide bill cost by total kWh.
Your estimate
Estimated annual cost
$837.68
Average monthly cost
$69.81
Cost on a day it runs
$2.30
Energy on a day it runs
13.50 kWh
A tank heater cycles rather than drawing full power continuously. Enter an estimated total heating-element runtime, not simply the hours hot water is available.
Calculation method
How this estimate is calculated
Important assumptions
What can change the result
- Runtime is the total time the heating element draws power.
- Standby loss is reflected only if included in the runtime estimate.
- Incoming water temperature, tank setpoint, insulation, and household usage are not modeled separately.
For the most useful estimate, use measurements from a plug-in energy monitor, connected charger, vehicle dashboard, or product energy label whenever available.
Improve your inputs