Quick Facts: Solar Hot Water
- Solar water heaters pay for themselves in 3-10 years, depending on your hot water use and whether you are comparing to gas or electric water heating.
- A simple passive system only adds about $15/month to your mortgage and pays for itself long before your mortgage is paid off.
- The total costs (initial cost, fuel, maintenance) over the life cycle of a solar water heater is one of the lowest of all water heating systems available.
- Solar increases the value of your home and provides an appealing sales feature.
- Your solar equipment has value independent of your house. You could sell your solar equipment or take it with you when you move.
- Take advantage of state income tax credit (25 %) and exemption from state sales tax.
- Increased use of solar will help decreases environmental problems caused by burning fossil fuels.
- Use of solar energy creates quality local jobs by expanding the local solar industry.
- Use of solar provides you with more independence in your personal life.
- Increased use of solar reduces our dependence on imported oil.
- EPA/DOE studies indicate that the value of a home increases from $11 to $25 for every $1 reduction in annual utility bills.