Solar water heating lets you enjoy free hot water!
After a solar water heating system is purchased and installed, you will begin to recognize savings in electricity, propane, or natural gas. When included in the construction of a new home, solar water heaters can provide an immediate payback and positive cash flow for a homeowner. When replacing an existing water heater, solar water heating systems typically pay for themselves within 7-10 years. In areas with state and local incentives payback can be as little as 1-3 years! Furthermore, systems last from 20 to 25 years, or more, so after that initial payback period is up, you will enjoy free hot water for years to come.
In addition, homeowners may be eligible for the Solar Federal Tax Credit. You can claim up to 30 percent of product and installation costs for a new system for both existing homes as well as new construction. These federal tax credits will expire on December 31, 2023. To find out more, please click here.
Other savings benefits include:
- Many states and utilities offer additional incentives. Click here to view the incentives in your state.
- Lower first-time start-up costs and faster return on your investment than a solar photovoltaic system
- Solar water heating systems can take advantage of the sun’s free energy year-round.
- Solar water heaters can reduce energy consumption of heating water up to 80 percent in homes.
- Water can be heated even at low temperatures.
Source: U.S. Department of Energy EERE Consumer’s Guide/EESI