I have a 50gallon electric water heater that after we take a shower(or do the dishes or anything using the hot water ) the water becomes cold and we have to reset the heater,then fine until water temperature drops below some point & we have to reset again. Why would this happen and what do I need to do? Thank you for any help you have.

A reset button or is your breaker in the panel tripping? http://www.waterheaterrescue.com/pag...er-issues.html

I would start by checking elements. Do either an ohm test, or a continuity test with wires disconnected from elements(make sure power at breaker is off when doing this). Most likely you have a bad heating element. But if they check out OK, I would look at thermostats. Elements are cheap and fairly easy to replace, I would start here. Let us know what you find.

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after we take a shower(or do the dishes or anything using the hot water ) the water becomes cold and we have to reset the heater,then fine until water temperature drops below some point & we have to reset again. Why would this happen and what do I need to do?

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My bet's on a faulty thermostat and here's why. The thermostat controls the elements which are opposing units. All that means is that when the bottom element's on the top ones off and visa-versa. A element pulls about 19 amps when on. If the thomostat directs both elements to run at the same time you would have 38 amps blowing the 30 amp breaker.
My advice? Replace both thermostats and see if that doesn't solve the problem. Good luck, Tom,