Find Out if You Could Save Money by Upgrading to a Solar Water Heater

There’s no question that a solar water heater is more efficient than either a gas heater or electric heater. That said, there are some costs that can make a solar heater more expensive initially. Solar heaters aren’t for everyone. At The Stanley Louis Company, we always recommend the best solutions for our clients and we’re happy to do that for you too. Give us a call to learn more about what will likely work best for you.

You’ll spend more today to save money tomorrow

While it’s true that a solar water heater is going to save you money in the long run, it’s also true that they’re almost always more expensive to buy. What’s more, it costs more to install. For the owner of a smaller home who doesn’t use much hot water, or a person who doesn’t plan to be in their home for more than a year, it may not make the most sense.

There are several factors that will affect how much money you save

There’s no single factor that will tell us if you’d save more money with a traditional water heater or a solar one. The reality is that it’s all about a combination of factors and how they come together. Some of the factors that will affect your costs include:

• How much hot water you use
• How much fuel costs for your backup water heating system
• How well your system performs
• What financing and incentives are available for either option
• The solar resources of your particular property

However, on average, installing a water heater will reduce water heating bills by at least 50% and up to 80%. The fact that the sun is free also means that you won’t have to worry about fuel shortages or rising prices in the future.

Choosing a solar water heater for a new home

If you’re either building a brand new home or you’re refinancing, then you may find solar water heaters to be an even better deal. Why? Because if you include the cost of buying and installing a water heater in a 30-year mortgage, you’re looking at paying about $13 – $20 per month for it.

The federal tax deduction for your mortgage interest that can be attributed to your solar system lowers that amount by between $3 and $5. Essentially, if you save more than $15 a month in fuel, then you’ll be immediately saving money. Month to month, you’ll be saving more than you’re paying.

Is a solar water heater right for you? We can help you decide

We hope this information is useful to you but we understand that it’s all just general info until we can visit your home and assess your needs and your options. Reach out to The Stanley Louis Company at 800-217-6527 to set up a consultation. We look forward to going through the options and making sure you get all the information you need to make an informed decision.