How much does a Solar Hot Water System Cost?

There are a lot of benefits in using solar energy for our home needs, such as hot water for showers and the washing of dishes and laundry. The other benefits of solar are palpably returned to us when we begin to see the great monetary savings and feel the peace of mind that is gained by knowing that we are using renewable, clean energy and reducing our carbon footprint on planet Earth. Looking at the hot water usage in a typical household, let us consider how a solar energy system really helps cut the cost of electricity bills.

 Hot water usage in a typical household accounts for about 15 percent of the total energy consumption on average. A solar hot water system can supply around 50-80 percent of the total volume of hot water used in a home, depending on the season and usage patterns, reducing that 15 percent total energy consumption. If a family incurs a hot water bill between $20-60 per month with an electric water heater, sizeable savings of between $240 and $720 per annum can be expected.

 Although solar panels usually come with a 10-year warranty, the life expectancy of these pieces has proven in most cases to be more than double that time. This fact speaks loudly enough for the great savings you can expect to enjoy over the long term, rather then what has been calculated based on the stated figures. The initial cost for the installation of a solar system for a typical residential home may average between $3,000-10,000, but with federal tax credits and other financial incentives, the total cost often is brought down much lower, making your investment very practical indeed.

 Solar energy is not limited to home applications. The solar industry continues to grow well beyond the home, in fact, as more commercial industries find that solar systems can benefit them as well. These systems are increasingly being installed in restaurants, breweries, factories, hospitals and urban office buildings. Because there are many applications that make use of hot water in these commercial environments, there is a growing need to supply hot water efficiently - and preferably at a lower cost. With more home owners choosing Earth friendlier energy suppliers, they are also demanding the same from the businesses they support. Hence, it is not just residential units that are using solar systems today; it is a fast growing trend in the commercial and industrial applications sectors as well.

 You will note slightly different designs of the solar systems that are used by commercial and industrial environments as compared to the solar system designs used for residential buildings. Commercial or industrial solar system designs are more nuanced. While these finer designs may cost more, the 30 percent federal tax credit brings the cost down substantially, effectively encouraging more such installations. With the many incentives offered on their installations, solar hot water systems on a commercial scale are proving to be a great investment. It is not surprising then that the commercial and industrial sectors