: My water heater just stopped working. Its electric. What should I check first? How likely is it that I can repair it? How much might this cost me? Thanks.Near the top of your water heater there is a red reset button. It may have tripped and if so it may trip again indicating a problem with a thermostat or an element. It pops out when the water temperature gets too high. I have a trouble shooting guide and water heater information on my website.