Financial reasons to go solar
There
are some definite long term financial advantages to choosing solar water
heating.
If you have spare money available to you, ploughing it in to a solar hot water installation could more than pay for itself in the years to come.
Save more as energy bills increase. Invest now and plan ahead...
Lower energy bills
You could expect to save between 50 and 70 percent of your water heating costs each year (this will depend on how much hot water you use). Even in the UK, during a normal summer it will cost next to nothing to heat your water via solar. Now, that's definitely a reason to feel smug when your neighbour complains about his expensive utility bills!
As a bonus, traditional energy tarriffs look like they're set to rise substantially over the forseeable future, so the savings you make by going solar should actually increase year on year.
Investing in solar water heating
If you're not sure whether you should be investing your money in solar
water heating, consider this... At current interest rates, placing £2,500
in a bank would only earn you around £100 a year in interest (and
that's taxable). If you invest a similar amount in a solar hot water system,
you could save much more than that £100 on your energy bills over
the course of the year. Much much more if you use lots of hot water!
Something else to consider... Your property will immediately achieve a better energy rating with a solar water heating system installed. With the new Home Information Packs and Energy Performance Certificates being introduced for house sales in 2007, that may just give you an advantage over your rival vendors when your property goes on the market.