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Several signs indicate your water heater may be failing or in need of replacement. Key indicators include:

• Age: A water heater older than ten years is approaching the end of its typical lifespan.

• Water Quality: If you notice rusty or discolored water from your hot water faucets, or a foul odor similar to rotten eggs or sulfur, it can signal internal corrosion.

• Unusual Noises: Banging, rumbling, or popping sounds from the tank often mean sediment has built up, causing the unit to overheat.

• Leaks: Any water pooling around the base of the tank or visible leaks are clear signs of failure.

• Performance Issues: A decline in performance, such as water not getting hot enough, taking longer to heat up, low water pressure, or decreased efficiency, suggests the unit is struggling.

• Visible Damage: Obvious rust and corrosion on the exterior of the tank can indicate a more serious internal problem.

While these signs often point to replacement, some issues may be fixable. It's best to consult a professional plumber to diagnose the problem before investing in a new unit.

If your system is not vented properly, you could experience what’s called backdrafting. Backdrafting is when your ventilation system isn’t working as it should, and instead of releasing gases outside, they get trapped inside your home. 

Gas and propane water heaters create a few types of combustion gases, but the most dangerous is carbon monoxide. If there’s too much build-up of these gases inside your home, it can lead to carbon monoxide poisoning.

The amount of time it takes to replace an electric water heater will depend on the skill level of the individual who is replacing it. For example, if you replace it yourself–and you don’t have much experience–you can expect the project to take a full day. 

However, if you have a certified plumber or water heater contractor install your new water heater, it can take as little as 2 to 3 hours.

If you have a tank-type electric water heater, it runs regularly to keep the water at the desired temperature. If you live in a home where you don’t use much hot water, it could seem wasteful to run power to heat water that you’re using infrequently. You could save some power by using a smaller tank, insulating the tank, or lowering the temperature of the water heater.