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 and prove to be a better investment than banking your money at low interest rates.
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 fluctuate over the forseeable future, so the savings you make by going solar could actually increase year on year and at least stay stable.
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 £4000
in a bank would earn you very little in yearly interest (and it would
be taxable). If you invest a similar amount in a solar hot water system,
you could save much more 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 can immediately achieve a better energy rating with a solar water heating system installed. With Home Information Packs and Energy Performance Certificates now introduced for all house sales, that may just give you an advantage over your rival vendors when your property goes on the market.