Richmond 10E80-HP120M Running Cost (Electric Water Heater)
What the Richmond 10E80-HP120M costs to run
At 1,403 kWh/yr, the Richmond 10E80-HP120M's ENERGY STAR certification puts it one of the more expensive models in its category to run against every other certified electric water heater.
The $264 figure above uses the simple average of all 51 published state rates. Pick your state for the real number.
Richmond 10E80-HP120M against the category
That's 27% above the electric water heater category average of 1,105 kWh/yr, and ranks 560 of 596 certified electric water heaters for annual running cost, 1 being cheapest. The category average comes from every electric water heater ENERGY STAR currently certifies (596 models), not an outside benchmark, about $56/year above that average at the national rate. See the methodology page.
What sits beside it in the ranking
Richmond 10E80-HP120MS ($264/yr, 1,403 kWh/yr) costs a little more to run than the Richmond 10E80-HP120M. Rheem XE80T10HMS00U0 ($264/yr, 1,403 kWh/yr) costs a little less.
Same brand, different models
Richmond makes 28 ENERGY STAR certified electric water heaters; this one ranks 27 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.
Cost over its typical lifespan
Over the 11-year service life NAHB reports for this category, running the Richmond 10E80-HP120M costs roughly $2,901 in electricity, separate from the purchase price.
Weighing a replacement
At $264/year, this is on the expensive side for a electric water heater; the cheapest certified model in this category runs about $121/year, worth knowing before buying either the Richmond 10E80-HP120M or its replacement.
Compare current ENERGY STAR certified electric water heaters before buying.
Protecting what you have
A electric water heater like the Richmond 10E80-HP120M is a real household expense whether or not it needs replacing yet; a protection plan is one way to budget for a repair rather than a full replacement.
Sourcing
Two sourced numbers, nothing modeled: ENERGY STAR's certified kWh/yr for this exact model, and EIA's published state electricity rate. Ranked 560 of 596, the Richmond 10E80-HP120M 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.