I have put my 2 geysers on a time switch. They are only on 4 times a day @ 40 minutes each. I lowered my temperature for my geysers to just over 50 degrees.
My total savings is 44,4 % per month since I did that. I save more than R500 every month.
The Time switches was installed by an electrician, costs R1200 for 2.
I saved average 44,4 % every month (last 10 months) sinve I did it comparing to the average monthly usage the 6 months prior to it.
I save more than R500 every month. Payback was 2,5 months on my investment.
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You didn't really need to timer switch to do that. 50 degrees C is not a good idea. Some nasty stuff will grow in the cylinder. you have to raise the temp above about 55degC