How can I pocket up to $12,000 over the next 20 years?
The $12,000 is an estimate using the current information we have collected from government sites. This is not a promise and might not apply in your particular circumstances.
How did we calculate that?
The yearly electricity savings are between $300 and $700 (Source: Department of Environment and Natural Resources).
The Environmental Protection Agency estimates the life of a solar hot water system to be between 15 and 20 years.
So in an ideal scenario, you could save $700 per year x 20 years, which is $14,000.
We can install a solar hot water system from $1,800 (after rebates and depending on your location and needs).
Deducting the roughly $2,000 off the $14,000 leaves a potential profit of $12,000.
How else could you calculate it?
As you can see this calculation is the ideal scenario. Assuming that only $300 are saved per year and the system lasts 15 years, the total savings would be $4,500. There are systems that might cost around $4,000 fully installed (again after rebates).
So this scenario is not as profitable.
What we have not considered is the rising electricity prices.
Thinking further
However, even in this most negative scenario, you are still better off getting a solar hot water system than not doing anything - just financially.
Taking the environmental impacts into account: 3,000 kg of CO2 saved each year (25% of household greenhouse gas emissions) makes it an excellent proposition.
Find Out Whether You Can Benefit From Solar Hot Water.
You can get an instant quote right now. There are 23 simple questions that lets our online calculator work out the best solution for your situation. That way you know exactly whether you can benefit from solar hot water.
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