What the Richmond 10E50-HP5US30 costs to run
The Richmond 10E50-HP5US30 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 56 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-HP5US30: Richmond 10E50-HP5U30 ($159/yr, 846 kWh/yr), then Ruud CPROPH50 T2 CD375-30 ($159/yr, 846 kWh/yr).
Same brand, different models
Ranked 10 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
NAHB's Study of Life Expectancy of Home Components puts a typical electric water heater's service life at 11 years; run the Richmond 10E50-HP5US30 that long and it costs about $1,750 in electricity, on top of whatever it cost to buy.
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-HP5US30 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
Nothing here is estimated from a nameplate wattage; the 846 kWh/yr is ENERGY STAR's own certified figure for this model. At rank 56 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.