"Solar Water Heating is using the sun to heat water, thereby saving on you money on your gas bill by eliminating or reducing the amount of water that needs to be heated. It is cheaper to install than solar electricity and has a faster payback. You need to do your homework first. Find out how solar friendly your home’s location is, how much hot water you use, upfront costs, cost of fuel, tax incentives, and rebates. Systems range in price from $7,000 - $10,000. They should drop your water heating bills by 50 - 80%. Water heating typically uses 15-25% of the energy consumed by a home. Federal Tax Credit is currently 30%. Typical return on investment is 3 to 7 years.
Energy.gov has information of estimating a solar water heating system’s cost and payback.
The economics are even better if you are refinancing or building a new home. You could roll the cost into your mortgage and write off the mortgage interest."
The bottom line is...
Use the sun to save $!
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