Solar Hot Water Systems cost a lot lesser than conventional Electronic heaters. But the initial installation charges of this system could be little high. This is mainly because you need to buy one time investments like Solar Panel and Storage Devices. But still, this cost of installation could vary from place to place depending up on external features like the climate at your area and internal features like the presence of electricity boosters and the placement of storage tanks.
Investing only to get it back
Many reports suggest that a conventional Solar Water heating system will cost around $1500 and it will save enough electricity to pay off that sum in a period of 7 years. So, it is really an investment that you will get back eventually. Moreover, they are eco-friendly making you a warrior for the green earth campaign.
A normal solar water heater will give you 70% of the hot water without using one bit of electricity and that is something you should applaud. Further more, many Governments give you tax reductions, incentives and awards for choosing Solar Heaters in your home.
Determining the cost in layman terms
Consider the weather at your place. If you live in a warm, equatorial place you have nothing to worry about. You can go with the Solar Heater with your eyes closed. If you have continuous supply of sunlight, it means that you are going to use your water heater to the maximum extent and maximum utilization means maximum profit. But on the other hand, if you live in a cold, polar place you will have to attach a booster to maximize the efficiency of your heater. This booster will operate only on Electricity or Gas and so it will cost you some money to power the booster.
Solar Hot Water System Image
The operational cost of the Solar Heater is very low and it might come only to $10 per month. But of course there is the large sum of initial amount that you have to pay to set up the machine. This will depend upon the manufacturer as well as the model. Larger and Newer models cost more than the normal models.
Avoiding Installation charges
No matter how much you pay, you will be able to make profit only if the system works efficiently. So, hire an electrician and check your system once in a while to ensure its efficiency. The proper service will also save the cost of maintenance if your system faces a problem.
If you hire a company to install the device, they will approximately charge you $300. But if you read the manual and do it on your own, you could save some bucks. These days, there are still some Governments which impose taxes on your for installing such Solar Systems in your houses. If that's the case, you might have to pay more.
Then there is the cost of electricity in your country. Yes, although the system is based on solar power, it can't operate without electricity. So, that will also play a major part in determining the overall cost of Installation.