LG APHWC502M: running cost
ENERGY STAR certifies the LG APHWC502M at 1,181 kWh/yr, about average for its category to run for its category.
That $222 is priced at 18.8¢/kWh, the average of all 51 state rates this site tracks. Your own state's rate is one click away.
Efficient, or not, for a electric water heater
The category average is 1,105 kWh/yr; this model runs 6.9% above it, ranking 304 of 596 electric water heaters tracked here for running cost. That average is drawn from all 596 electric water heaters ENERGY STAR currently certifies, not an outside number, a $14/year gap from this model at the national rate. Full sourcing is in the sourcing notes.
Right next to it on the list
A rank or two either side of the LG APHWC502M: LG APHWC502L ($222/yr, 1,181 kWh/yr), then Rheem CPROPH65 T2 RH375-SO ($223/yr, 1,184 kWh/yr).
Comparing LG's own models
Ranked 5 of LG's 14 certified electric water heaters, this sits between the R5TT20F-SA0 (208V) ($163/yr, the brand's cheapest) and the APHWC801M ($239/yr, its priciest).
What this adds up to over time
11 years is NAHB's typical service life for this category; at $222/year, the LG APHWC502M adds up to about $2,442 in electricity over that span.
Weighing a replacement
Efficient as certified electric water heaters go, $222/year is a reasonable baseline if you're comparing what else is on the market.
Worth comparing a few current certified models before deciding.
If you're keeping it
The LG APHWC502M already costs $222/year to run; a repair bill on top of that is the kind of expense a protection plan exists to smooth out.
Where this number comes from
Two sourced numbers, nothing modeled: ENERGY STAR's certified kWh/yr for this exact model, and EIA's published state electricity rate. At rank 304 of 596 for running cost, see the electric water heater category page for the rest of the field, or the guide to how much your state matters.