There is an article on the EERE site that displays information on how to save energy by using these heaters at off-peak timings / by using a timer (link). The article also contains more links on the following topics:
Install Heat Traps on a Water Heater Tank for Energy Savings
Lower Water Heating Temperature for Energy Savings
Reduce Hot Water Use for Energy Savings
Insulate Hot Water Pipes for Energy Savings
Drain-Water Heat Recovery
Insulate Your Water Heater Tank for Energy Savings
Select a New Water Heater.
If you have an electric water heater, you can save an additional 5%–12% of energy by installing a timer that turns it off at night when you don't use hot water and/or during your utility's peak demand times.
Contact your utility to see if it offers a demand management program. Some utilities offer "time of use" electricity rates that vary according to the demand on their system.
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