The Solar Hot Water Cost Question
The novelty of solar water heating is hardly enough to justify the costs associated with installing a new solar hot water system, but ultimately the system should pay for itself and save you money for many years to come.
The average solar hot water cost runs in the realm of $10,000. This is not exorbitant but is still a pretty penny for the average homeowner. If a solar water heater is to save you money, you will need to take into account some considerations.
Factors in determining solar hot water cost:
- How much hot water you consume
- System efficiency
- Traditional VS Solar cost
- Financing and incentives
How much hot water do you use?
One of the factors to consider in determining the cost of solar hot water system is to know how much heated water you will be needing, the amount that is enough to allow you to cut your dependence on other sources of hot water. The typical solar system has a 120-gallon storage tank for the heated water. It is estimated that the average household uses 64 gallons of hot water per day. Thus, the system will need to be replenishing your store of hot water constantly or you’ll need a bigger tank, depending on your situation. It may prove necessary to install a back-up system, which will somehow add to the cost of your solar hot water heater.
Another factor to consider in determining your solar hot water cost is system efficiency. If you live in a sun-saturated area, system efficiency will not affect whether the system saves you money. You may be able to save money on the initial installation even given with less efficient panels. If you live in an area with less direct sunlight then attaining efficiency could be a problem if the system is to meet your hot water needs. If a solar water heater is to save you money in the long run it will have to reduce your yearly water heating bill enough to cover the cost of maintaining the system and also to recover the initial cost of installation.
Traditional VS Solar
Making the transition from traditional water heating arrangements to a solar hot water system is a big move, and one that relies on the idea that the solar hot water cost will be significantly less than traditional, or at least enough so to make it worth the effort. What advantages then does solar have over traditional? Switching over to a solar hot water system will greatly reduce dependence on the city, or any outside source of hot water, and will negate the impact of any fluctuation in utility cost. Also, the sun is a completely free source of heat and energy so, if you utilize solar hot water, costs for the source of energy will be very low, only costing as much as the maintenance of the system.
Financing and Incentives
When you move to install your solar hot water system, taking advantage of any government incentives will significantly cut the up-front solar hot water installation cost. Many local governments, often at the city level, will offer tax rebates or other financial aids for those installing solar in support of alternative energy options.
With financing, the important consideration is this: Is the monthly payment less than your original hot water bill?
The amount of your solar hot water system cost should ultimately justify the purchase of a solar water heater through the benefits of a solar system you will ultimately reap.
Contact us today and we will be glad to advise you of our solar hot water price list.