Install a timer on electric water heaters and save money

If you have an electric water heater, the U.S Department of Energy estimates that you can save 5-12 percent of your energy costs by installing a timer that turns it off when you aren't using hot water.  At night, or while you're at work, and during your utility's peak demand times, you don't really need it running...

You can install a timer yourself. They cost $60 or more, but they can pay for themselves in about a year. For details on how to install a water heater timer, see these articles:

• Great article at DIY Network
• The Department of Energy also released this guide on installing a timer