Economic Benefits

 
SOLAR$AVES

Solar water heating can be one of the best investments made in a solar energy technology.  Around 30% of a household's energy costs come from water heating.  Solar  water heaters are capable of facilitating the same amount of heated water at a fraction of the energy expense compared to contemporary water heating systems. 

 

 

NOTE: The information presented in this page is for guidance only - no part of this may be used for any agreement, whether expressed or implied, or to form any contract. THERMO TECHNOLOGIES reserves the right to change specifications and prices without prior notice.

Water heating can account for 30% of a household's energy use.  A solar hot water heater heats the same amount of water for a fraction of the cost.  Of course a solar hot water heating array's performance is dependent on the intensity of the sun in its location.  The initial expense of installing a solar hot water heater ($3500 to $5500) tends to be greater than installing an electric ($450 to $650) or gas ($750 to $1000) water heater. 

 
   
   
   
   

It is only logical to take into account the long term expense of each system. The time in which it takes to recover the investment in solar hot water heaters vary.  A return can be expected in 3 to 7 years with a properly installed and well-designed solar hot water heater.

  
  

 
   
 This rate of return also depends on the cost of electricity and gas in your area.  It may well be that conventional heating is more economically viable than solar hot water heating.  Conventional water heating methods are better, economically, if local energy costs are relatively inexpensive.  
   

Both electric and gas water heaters depend on fuels where a solar hot water heater merely depends on the intensity of the sun.  Since sun light intensity varies there is also the option of using gas or electric water heaters as a booster system in conjunction with a solar hot water heater.  In either case the use of a solar hot water will lower energy resource consumption.  


Some local and state governments offer incentives for installing solar water heater.  These incentives vary and should be researched for your area.  Energy companies also give incentives to residents to install solar technologies since solar systems decrease the demand of energy.  This is especially crucial during peak loads.  Contact your energy provider to see what incentives they might offer.

"It is every man's obligation to
put back into the world at least the
equivalent of what he takes out of it."
Albert Einstein

Solar hot water heaters offer benefits beyond that of economic gain.  By reducing of electricity and gas consumed, solar  water heaters help to reduce pollutants such as CO, CO2, SOx, and NOx.  The dependence on foreign oil supplies is also alleviated as energy demands are decreased.  After the payback period of the solar water heater, water heating only costs as much as maintenance of the system.  Maintenance includes an inspection of the system every three years and minor repairs based on findings from inspections.  At this point money will be saved and energy costs for the rest of the systems lifetime.  A solar water heating system has a lifespan of up to 25 years. Another advantage, assuming a non-booster heating system, is that water heating costs will have no variance on the market price of energy. 

 


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