Electric water heater if fully repairable by homeowner:
A] First of all, we know your upper element is working because you have some hot water:
http://waterheatertimer.org/How-it-works.html
That says tank is not overheating.
It says tank is getting 240Volts.
It we know water heater is 240Volts because you have 2 elements.
And it says reset button is not tripped.
B] That leaves 4 suspects:
Suspect 1) Bad Upper thermostat or Bad Lower thermostat: solution replace both thermostats for about 25$. Steps shown in link below.
http://waterheatertimer.org/How-to-replace-thermostat-on-electric-water-heater.html
Suspect 2) Burned out Lower element: solution take out element, clean sediment out of tank, put in new element. Steps shown in link below
http://waterheatertimer.org/How-to-clean-sediment-out-of-electric-water-heater.html
Suspect 3) Loose wire or connection: solution open covers and remove insulation and look for signs of burning and high heat. Tighten all screws very tight. Replace burned part. Put insulation and covers back over thermostat so thermostat not exposed to cool air which will cause thermostat to misread tank temperature.
C] Before replacing anything, you can test water heater parts and determine exact cause of problem. Testing requires $5 multimeter from Lowes or Home Depot:
Install battery in multimeter.
When test calls for testing voltage, rotate multimeter dial to 240 or 250 or 277 Volts.
When test calls for testing continuity, rotate multimeter dial to ohms (upside down horseshoe symbol is ohms)
http://waterheatertimer.org/How-to-troubleshoot-electric-water-heater.html
After doing 30 minutes of testing, you will be expert in water heaters.
D] You replaced elements for a reason.
Did you test elements before replacing?
Was tank producing some hot water before you replaced elements?
If tank producing some hot water, then lower element was bad, and upper element was good.
And when you replaced lower element, did you also clean sediment out of tank?
If sediment builds up inside tank, it will reach lower element and burn out the element.
That could have been original problem, and it could be same problem again.
Restore full efficiency to tank by cleaning out sediment and replacing lower element.
http://waterheatertimer.org/Clean-sediment-out-of-water-heater.html
E} More reading to preserve tank and save money long term
http://waterheatertimer.org/Replace-anode-rod.html
http://waterheatertimer.org/9-ways-to-save-with-water-heater.html
Most electric hot water heaters have two thermostats, one near the top of the tank and one near the bottom, and are covered by removable metal cover plates. The thermostats are pressed firmly against the bare metal wall of the hot water heaters tank.
The top thermostat usually has a high limit switch that will trip if the water gets too hot. When it trips it shuts off the electricity to both the upper and lower heating elements.
To reset the high limit switch there is usually a red button that you must press. When the upper limit switch trips it is often an indication that something else has gone wrong with the heater.
When the top of the tank is hot the upper thermostat removes power from the upper heating element and transfers the power to the lower thermostat and heating element. If the lower thermostat is defective, then the lower portion of the tank will not be heated and the supply will be greatly reduced.
Check for power at the upper thermostat terminals where the power is sent to the lower thermostat and heating element. If there is no power then the upper thermostat should be replaced. If there is power then check for power at the lower heating element. If there is no power at the lower heating element then replace the lower thermostat.
If there is power to the lower heating element then it should be getting hot. If it is not, replace it. Another possibility is a broken dip tube. Check for a broken dip tube and replace if necessary.
Hope this helps out
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