LG APHWC502L: running cost
The LG APHWC502L is certified by ENERGY STAR at 1,181 kWh a year, about average for its category to run among electric water heaters currently certified.
The $222 figure above uses the simple average of all 51 published state rates. Pick your state for the real number.
LG APHWC502L against the category
That's 6.9% above the electric water heater category average of 1,105 kWh/yr, and ranks 303 of 596 certified electric water heaters for annual running cost, 1 being cheapest. The category average comes from every electric water heater ENERGY STAR currently certifies (596 models), not an outside benchmark, about $14/year above that average at the national rate. See the methodology page.
What sits beside it in the ranking
LG APHWC502M ($222/yr, 1,181 kWh/yr) costs a little more to run than the LG APHWC502L. LG APHWC502D ($222/yr, 1,181 kWh/yr) costs a little less.
Comparing LG's own models
LG makes 14 ENERGY STAR certified electric water heaters; this one ranks 4 of 14 for running cost, between the brand's cheapest, the R5TT20F-SA0 (208V) at $163/yr, and its priciest, the APHWC801M at $239/yr.
LG APHWC502L over 11 years
Over the 11-year service life NAHB reports for this category, running the LG APHWC502L costs roughly $2,442 in electricity, separate from the purchase price.
Is it worth replacing?
The LG APHWC502L is already efficient for its category at $222/year. If you're shopping and comparing options, this is roughly what a well-chosen new electric water heater costs to run.
Compare current ENERGY STAR certified electric water heaters before buying.
Protecting what you have
At $222/year just to run, a electric water heater is worth protecting against an unplanned repair bill on top of that.
Sourcing
Two sourced numbers, nothing modeled: ENERGY STAR's certified kWh/yr for this exact model, and EIA's published state electricity rate. Ranked 303 of 596, the LG APHWC502L sits in the middle of the electric water heater category, see the guide to why your state changes this number for the other half of the math.