If you have an electric water heater and some for of consistent schedule in your household, you might look into a water heater timer.  They can be purchased around $25 which you may save on your first few months electricity bills.  

When you add a timer to your water heater it will turn the water heater on and off at specific times throughout the day.  Our timer paid for itself in just a little over a month.  We have it set so that hot water heater comes on at 7 a.m. and goes off at 7 p.m.  This is usually a very working time schedule.  For those that are gone all day from the house, you might also keep it off while you are at work as this can save even more.