I just installed a new 52 gal electric tank. Would plugging into a timer save alot on my electric bill.The tank would cool down and it would take alot of electric to get temp up when timer comes on. So does it really save alot.Its just me and my wife so we could take showers when timer is set to come on
You heat the water you use, so a timer just does it all at once instead of during use. The one time it will save energy is if you deplete the hot water between cycles. In that case, you have cold showers, but the heater will not operate until the timer starts it, and then it will only heat a full tank of water, regardless of how much water you used during the day.
The only way this will save you significant $$$ is if you have a “time of use” meter from your utility company. I have an 80 gallon tank and heat it overnight at the lowest rate of roughly $.02/kilowatt hour. My wife does laundry on the weekend when the rates are at the lowest so I leave it on 24 hours on Sat and Sun. I never run out of hot water and I estimate I save at least $20/month or close to $250/year.