Richmond 10E65-HP120MS Running Cost (Electric Water Heater)
Richmond 10E65-HP120MS: running cost
At 971 kWh/yr, the Richmond 10E65-HP120MS's ENERGY STAR certification puts it cheaper than most models in its category to run against every other certified electric water heater.
The $183 figure above uses the simple average of all 51 published state rates. Pick your state for the real number.
Where this ranks
That's 12.1% below the electric water heater category average of 1,105 kWh/yr, and ranks 267 of 596 certified electric water heaters for annual running cost, 1 being cheapest. Every one of the 596 currently-certified electric water heaters feeds that average, putting this model about $25/year under it. See how it's calculated on the how it is calculated page.
The closest alternatives by cost
Sorted by running cost among electric water heaters, one step cheaper is Richmond 10E65-HP120M ($183/yr, 971 kWh/yr), and one step pricier is Ruud PROUH65 T0 RU120-M ($183/yr, 971 kWh/yr).
Within the Richmond lineup
Richmond makes 28 ENERGY STAR certified electric water heaters; this one ranks 16 of 28 for running cost, between the brand's cheapest, the 10CE40-HP5U15 at $121/yr, and its priciest, the 10E80-HP120MS at $264/yr.
Richmond 10E65-HP120MS over 11 years
NAHB's Study of Life Expectancy of Home Components puts a typical electric water heater's service life at 11 years; run the Richmond 10E65-HP120MS that long and it costs about $2,008 in electricity, on top of whatever it cost to buy.
Weighing a replacement
The Richmond 10E65-HP120MS is already efficient for its category at $183/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
Whether or not the Richmond 10E65-HP120MS ever needs replacing, a repair is the more common failure for a electric water heater, one a protection plan budgets for ahead of time.
The data behind this page
Two sourced numbers, nothing modeled: ENERGY STAR's certified kWh/yr for this exact model, and EIA's published state electricity rate. At rank 267 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.