I have an electric water heater that I’d like to move from one end of my house to the other and I’m wondering how to calculate any potential energy savings.

All of the water users including the kitchen, laundry, and bathroom are tightly clustered at the front of the house where our town water supply enters the foundation. But the hot water tank is at the opposite end of the house about 30’ away, for reasons that predate me owning it.

I’m wondering if moving the tank (probably a $50 cost) is worth the energy savings. If nothing else, I’m expecting shorter wait times for hot water at the taps. But if moved, the tank would be directly beside or directly below each tap (within 5’-10’max) and currently there is an additional 30’+ of extra copper pipe holding hot water. They’re all 1/2″ lines. Any thoughts on whether we would we notice much difference on our electric bill after moving the tank?