Richmond 10E50-HP530 Running Cost (Electric Water Heater)
Richmond 10E50-HP530: running cost
The Richmond 10E50-HP530 is certified by ENERGY STAR at 846 kWh a year, cheaper than most models in its category to run among electric water heaters currently certified.
That $159 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 23.4% less, ranking 54 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 $49/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-HP530: Richmond 10CE50-HP5US30 ($159/yr, 846 kWh/yr), then Richmond 10E50-HP5U30 ($159/yr, 846 kWh/yr).
Comparing Richmond's own models
Ranked 8 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).
Richmond 10E50-HP530 over 11 years
11 years is NAHB's typical service life for this category; at $159/year, the Richmond 10E50-HP530 adds up to about $1,750 in electricity over that span.
Shopping for a new one
Efficient as certified electric water heaters go, $159/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
Whether or not the Richmond 10E50-HP530 ever needs replacing, a repair is the more common failure for a electric water heater, one a protection plan budgets for ahead of time.
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. Ranked 54 of 596, the Richmond 10E50-HP530 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.