Richmond 10E50-HP120M Running Cost (Electric Water Heater)
Running cost for the Richmond 10E50-HP120M
At 1,072 kWh/yr, the Richmond 10E50-HP120M's ENERGY STAR certification puts it about average for its category to run against every other certified electric water heater.
That $202 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
Against the category average of 1,105 kWh/yr, this model uses 3% less, ranking 283 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 $6/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 Richmond 10E50-HP120M: Rheem XE50T10HMS00U0 ($202/yr, 1,072 kWh/yr), then Richmond 10E50-HP120MS ($202/yr, 1,072 kWh/yr).
Comparing Richmond's own models
Ranked 17 of Richmond's 28 certified electric water heaters, this sits between the 10CE40-HP5U15 ($121/yr, the brand's cheapest) and the 10E80-HP120MS ($264/yr, its priciest).
Cost over its typical lifespan
Over the 11-year service life NAHB reports for this category, running the Richmond 10E50-HP120M costs roughly $2,217 in electricity, separate from the purchase price.
Weighing a replacement
Efficient as certified electric water heaters go, $202/year is a reasonable baseline if you're comparing what else is on the market.
Compare current ENERGY STAR certified electric water heaters before buying.
If you're keeping it
$202/year to run is the predictable cost of the Richmond 10E50-HP120M; a protection plan covers the unpredictable one, a repair bill.
Where this number comes from
Nothing here is estimated from a nameplate wattage; the 1,072 kWh/yr is ENERGY STAR's own certified figure for this model. At rank 283 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.