Save Money with a Solar Hot Water Heater

13 January 2009

If your old water heater is working fine, it may not make financial sense to replace it right now, but if it’s getting close to the end of its life, it’s definitely worth considering what comes next: a non-energy efficient clone or a solar hot water heater that can save you money in the long run?

Solar hot water heaters are common in many parts of the world but have been slow to catch on in the U.S. That’s likely to change in the future, however, as energy prices rise, so it makes sense to make the conversion when it’s possible.

Water heating accounts for 15% of a family’s energy bills, and every 3.5 gallons of water heated with a conventional electric heater creates more than two pounds of greenhouse gas emissions.

If you’ve got an unshaded, south-facing location on your property (many people use their roofs), then you can install a solar hot water heater. Though installation costs are higher than with electric water heaters, the free solar energy pays for itself within five years, and in many areas federal tax credits are available when you make the upgrade.