My only advise is to get a natural gas water heater, we went from electric to gas and I couldn’t get over how much we saved and the recovery time was much quicker.
Here, electricity is cheaper than gas (although NG is relatively cheap right now), but yes the gas heats much quicker. Of course, not everyone has a gas supply line running right outside. We have a tankless on-demand water heater which we love (LPG).