An apparatus and method are disclosed that monitors water of a water heating and storage system. At least one flow meter is integrated within the system having a tank for storing water to be heated. The meter is in communication with other devices in a home network and a controller of the network with a communication module. The flow meter is connected to the cold water inlet pipe and/or the hot water outlet pipe of the system. Data is presented to the user to enable more informed use of water and of water consumption habits.