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Does leaving hot water tank on waste electricity?

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Does leaving hot water tank on waste electricity?

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With all due respect to the first two responders, their answer is not accurate. The tank should be well insulated. If it is not well insulated, get it insulated as this is the waste. It takes a certain amount of energy to raise the water temperature to the high temp set point. As you use the hot water, cold water that enters the heater needs to be heated to keep the water hot. Turning the heater off results in deferring this required heating and you will not have hot water when needed. In fact in many communities, the electric utility has time of day rates for electric water heaters. When electric demand is lower and therefore cheaper to these people, electric water heaters are enabled (allowed to make hot water). When electric demand rises, these people have the electric water heaters disabled (not allowed to make hot water). Usually the water heater is enabled from about 7:00 p.m. until about 8:00 a.m. These people have no problem with this because they use little hot water during th

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