As the chart above represents, it is dramatically lower, on an annual basis, to own and operate a Solar Hot Water Heater with a gas backup than it is to own and rely on an electric or natural gas hot water heater alone. In fact, the California Public Utilities Commission recently released a report about the costs and benefits of Solar Hot Water Heating. Here is what they said:
- 60 – 70%: Percentage of heating expenses a typical homeowner can save by switching from their electric hot water heater to a solar hot water heater
- $750: Annual Savings at the percentage rate above with today’s record high gas prices
- Electrical rates have increased an average of 6% a year over the last 35 years
- Wholesale Price of Natural Gas has tripled in the last 8 years
It is no wonder that budgets are stretched, and that the cost of living is on a dramatic, unending rise in the United States. Luckily, however, Solar Hot Water Heaters from SunMaxx can help to dramatically reduce your dependence on electric or natural gas for your water heating, which will dramatically reduce your utility bills and add a little extra spending money to your budget from the moment you install the system.
Here are just a couple of the financial advantages that a new SunMaxx Solar Hot Water Heater offers compared to standard electric or natural gas water heaters:
- Protection from future price increases
There is no question, or debate – utility and fuel prices will continue to rise year after year for as long as any of us live. That is just a natural fact of the life that we live these days. But, while the average person will have their budget constricted further and further at the whim of these price increases, those who invest in a Solar Hot Water Heater from SunMaxx will find that no matter how high natural gas or electric prices go, their hot water will continue to be heated for free each and every year for the lifetime of their SunMaxx Solar Hot Water Heater.
- Solar Hot Water Pays for Itself – and Then Some
Like all solar energy products, SunMaxx Solar Hot Water Heaters are designed and intended to pay for themselves in just a matter of years. In fact, when taking into account the cost of materials, the cost of installation, and maintenance costs, a typical SunMaxx Solar Hot Water Heater will completely pay for itself within 8 – 10 years or less. And, after that time, when the system has completely paid for itself, you are still generating free energy to heat your hot water. For example:
- SunMaxx System Life: 30 Years (estimated – actual may vary)
- Payback Period: 10 Years (estimated – actual may vary)
- Free Energy (Free Money): 20 Years
What will you do with the money from 20 years of no heating bills???
- Incentives, Credits, and Rebates – Free Government Money
The Federal Government, and those of the States, are beginning to see the benefits of promoting Solar Hot Water Heaters and Solar Electric (PV) Systems to the country. In fact, over the last few years, governments around the country have instated a number of varied and effective incentives, rebates, and credits for the purchase, install, and use of Solar Hot Water Heater, and Solar Electric (photovoltaic) Systems.
The Federal government has instituted a 30% personal income tax credit against the cost of new Solar Hot Water and Solar Electric Systems, and several states have followed suit, instituting their own incentives, rebates, and credit programs. Please click here for additional information on Incentives, Rebates, and Credits. (link to: solar-hot-water-incentives-and-credits.php)
Please read through our entire network of pages on the Financial Side of SunMaxx Solar Hot Water Heaters. Our pages include information on Cost Comparison with Electric and Natural Gas Heaters, Solar Hot Water Financing Options, Solar Hot Water Incentives and Credits, Discussion on Payback Periods and ROI, and an in-depth look at the costs of SunMaxx Solar Hot Water Heater.
Please check the following links for detailed information:
A directory of information on lenders and agencies who are willing and able to assist home and business owners with the costs of purchasing and installing a new Solar Hot Water Heating System.
An online database of information on all available Incentives, Tax Credits, Production Credits, and Rebates offered by the Federal and State Governments to help alleviate the costs of purchasing and installing a new Solar Hot Water Heater.
An online guide to understanding payback periods, and how to determine the payback period of your SunMaxx Solar Hot Water Heater.
An in-depth look at the different costs of a SunMaxx Solar Hot Water Heating Systems, including materials, installation, delivery, etc.