A new study, “The Hidden Battery: Opportunities in Electric Water Heating” shows opportunities for energy storage and savings in residential electric water heating. As covered by the Natural Resources Defense Council (NRDC):

The analysis, conducted by The Brattle Group, found that under the right conditions, electricity cost savings could add up to $200 annually for a home with a grid-interactive water heater — enough to pay for the water heater and the controls in just five years.

Get more overview from NRDC here and in the study’s February 2016 press release.