If your hot water heater is located in an area which is not heated in the winter such as basement or garage, you can easily save money by adding an insulated jacket around the tank. This installation is easy to do and will begin to save up to 10% immediately!
Also aproximately once per year, attach a hose to the bottom of your hot water heater and drain water until there is no sign of sediment or debri. This easy maintenance will help to ensure that the heating elements are clear of sediment and potentialy extended the life of the heater. At very least, you will keep the dirt out of your faucet strainers.
http://extension.missouri.edu/xplor/hesguide/houseeq/gh4862.htm
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