Comparing the Cost of Renewable and Non-Renewable Water Heating
If you look at the cost of installing an electric heater and compare it to a solar thermal system, you may wonder why you would bother with the latter. A solar water heater can cost more than five times the price of an electric setup, though rebates and government schemes can reduce that by almost half. However, the initial installation costs don't take your annual savings into account... and that's where solar heaters come into their own.