How Much Does Solar Hot Water System Cost

Solar thermal is the most cost-effective way to use the sun’s energy. In Canada, a single 4 x 8’ glazed solar thermal collector will capture between 1,500 and 3,000 kWh of energy per year (depending on consumption and climate). At current electricity rates, that energy is worth $500 to $1000 a year.

In most residential homes, water heating is the second largest energy consumer next to space heating, costing anywhere from $600 to $1200 per year. For hot water intensive commercial operations, water heating can be the largest annual expense.

So why is it that when so much solar energy strikes the earth each day, there are not more people using solar thermal energy? Often, because people are deterred by the higher initial cost. Depending on the particular system, installation and equipment average $6,000.00 per home.

Not too many people want to shell that much cash no matter how much that is good for environment.

How It Works?

One of our subcontractors brings all the components to your home. After installing collectors on the roof, he/she installs new tank in your basement or mechanical room. Than, all the components are connected to your present hot water system. The whole process lasts less than half a day.

You pay monthly rent that is offset by your gas bill and has a positive balance from the day one!

If you average hot water bill is $100.00 per month and your solar system replaces 75% of that number, which means it saves you $75.00 per month, and if your rental cost is $43,97 per month you save $31 per month.

That $31 per month will pay off the initial installation costs in little less than two years.

Note: If You Want to Avoid 10% Price Increase - Spring of 2008.  Call and Reserve Yours Now!

There are several different residential applications that are economically attractive.

The most cost-effective is solar pool heating. It is not uncommon for Canadians to spend as much money heating their pool in the summer as they do heating their home in the winter, and solar energy can provide a major contribution in this application.

Playbacks vary widely, but you can expect a simple payback of 4 to 8 years on a well-designed and properly installed solar water heater. (Simple pay back is the length of time required to recover your investment through reduced or avoided energy costs.)

You can expect shorter payback in areas with higher energy costs. After the pay back period, you accrue the savings over the life of the system, which ranges from 15 to 40 years, depending on the system and how well it is taken care of. 

If you are building a new home or refinancing your present home to do a major renovation, the economics are even more attractive. The cost of including the price of a solar water heater in a new 30-year mortgage is usually between $13 and $20 per month. If your fuel savings are more than $15 per month, the investment in the solar water heater is profitable immediately.

How Much Does Solar Hot Water System Cost?

Call: 1-705-533-1633