Could a Solar Water Heater Save You Money? Get the Facts from a Water Heater Expert
A solar water heater is unquestionably more efficient than either a gas or an electric water heater. However, there are additional factors that might initially make a solar heater more expensive. Solar heaters aren’t suitable for everybody. We constantly propose the finest solutions for our clients at The The Stanley Louis Company, and we’re delighted to do the same for you. Call us at 800-217-6527 to find out more about what will most likely work best for you.
You’ll spend more today in order to save money later
While it is true that a solar water heater will save you money in the long term, they are usually always more expensive to purchase. Furthermore, it is more expensive to install. It may not make sense for the owner of a smaller home who does not use a lot of hot water or for someone who does not expect to stay in their home for longer than a year.
The amount of money you save will be determined by a number of things
There is no one criteria that will tell us if a regular water heater or a solar water heater would save you more money. The truth is that it all comes down to a mix of elements and how they interact. The following are some of the elements that will influence your costs:
- How much hot water do you consume on a daily basis?
- How much does your backup water heating system cost in fuel? How effectively does it work?
- What sources of funding and incentives are available for each option?
- Your unique property’s solar resources
Installing a water heater, on the other hand, will cut water heating expenses by at least 50% and up to 80% on average. The fact that the sun is free also means you won’t have to worry about future fuel shortages or price increases.
A new home’s solar water heater
Solar water heaters may be an even better value if you’re either building a new house or refinancing an existing one. Why? Because if you factor in the cost of purchasing and installing a water heater over the course of a 30-year mortgage, you’ll be spending around $13 – $20 each month.
The federal tax credit for mortgage interest that can be credited to your solar system reduces that amount by $3 to $5. Basically, if you save more than $15 per month on gas, you’ll start saving money right away. You’ll be saving more than you’re paying month after month.
Is it time to invest in a solar water heater? We can assist you in making your decision
We hope you find this material useful, but please keep in mind that it is only basic information until we can visit your house and analyze your requirements and alternatives. To schedule a consultation, call The Stanley Louis Company at 800-217-6527. We’re excited to go over the alternatives with you and make sure you have all the information you need to make an educated selection.