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honestly, when part of one starts to go, I generally toss in another one whole without messing around. Easier anyhoodles.
Actually I think it's a LOT easier to shell out $15 for an element or thermostat than $300 for a new tank, plus weighing in at only 100lbs myself, the smaller components are CONSIDERABLY easier to install
If $15 will squeeze another year or so out of this thang, then that's what we gonna do for now.
FireTigeris ~ electric kw hours are the cheapest part of my electric bill. I swear my $80 worth of electric usage somehow turns into a $150 bill by the time they get done adding taxes for the new sewer system that didn't even benefit ME personally anyway...... I turn off my lights and use CFL bulbs, but until I can afford a better system for water heating (maybe tankless in the future??? we'll see!) heating my water to my desired temperature is not high on my electric use worries. It says right on the tank that temps above 125*F are unnecessary and waste energy, but water less than 130* just doesn't cut it for ME so I crank it on up there. My parents have one of those timers for the water heater. It sounds like a great idea in theory, but my dad wasn't really all that impressed with it. In actual use for us, I don't know how it would work because we work opposite shifts, so it would have to be on practically all the time anyway.
Besides, they say that your energy bill will depend a LOT on your refrigerator - and I have a 2 year old energy star model so I hope it's good!!!!