Is Solar Hot Water Worth it?

The number of households with solar water heating systems has been rapidly increasing.  With more and more households embracing solar hot water, it’s natural to wonder if it’s worthwhile and want to learn more about the advantages. In this article, we’ll outline the benefits and help you decide whether it’s worth updating your hot water system.

What are the advantages of solar hot water?

There are several advantages of solar hot water for home and business owners. Here are some key benefits to consider:

It is no secret that households are struggling to cope with the rising cost of living. At a time when many people are looking to save money, solar hot water offers a means of lowering spending on bills and cutting household running costs. The amount of money you can save by switching to solar hot water will vary, according to how much water you usually use, how you heat your water now and your payback period. It is estimated that households can save up to 90% on monthly water heating expenses. 

Research conducted by teams based at the University of Wisconsin’s Solar Energy Laboratory suggests that the average electric water heater produces around 3 tons of carbon dioxide per year. Traditional hot water systems account for up to 20% of domestic greenhouse gas emissions. Switching to solar hot water is a simple and effective means of reducing emissions significantly. 

• Simple, effortless maintenance

Most home and business owners have hectic schedules. When you are busy, the last thing you want is to have to dedicate time and effort to maintenance at the weekends. The good news is that solar hot water systems are low maintenance, making them an ideal investment for people who are short on time. 

It’s impossible to read a newspaper or listen to a bulletin on the radio or TV without hearing about the cost of energy and people struggling to cover bills. Solar energy offers a way to harness the power of the sun to gain access to free energy. Once your system has been installed, you can start reaping the rewards. You’ll notice a huge decrease in your monthly bills and you’ll be making a positive contribution to the environment. 

One of the main advantages of solar hot water at the moment is protection against rising energy costs. Global crises, such as the pandemic and the conflict in Ukraine, have pushed energy prices up, causing bills to skyrocket. With solar hot water, you don’t have to worry about fluctuations or sudden, unexpected increases in your household bills. Wholesale power prices in Australia increased to more than double the cost in 2021 during the first three months of 2022, and rates are continuing to soar (source). 

• Increasing the value of your home

More and more people are looking to be proactive in reducing carbon emissions and homeowners are also eager to enjoy the benefits of increased energy efficiency and lower household bills. This means that homes that offer eco-friendly systems, such as solar hot water, are increasingly sought-after. Investing in solar hot water can not only save you money in the long term, but it can also enhance the value of your home and make it more attractive to prospective buyers. If you are considering putting your house on the market, you may find that providing access to solar hot water increases the market valuation and persuades buyers to choose your property over others. 

Is solar hot water a good investment for me?

If you own a home, or you are thinking about purchasing or renovating a property, you may be thinking about upgrading or modifying the water heating system. Solar hot water offers an array of benefits, including the opportunity to save money on bills, particularly in the long term, enhance the value of your home and enjoy peace of mind that you will be protected from energy price hikes. Another major benefit is reducing emissions and making a positive difference to the environment. If you’re unsure, it’s an excellent idea to research and find out more about how solar hot water could benefit you. 

Conclusion

Solar hot water has become increasingly popular. If you are looking for ways to save money each month, do your bit for the planet and increase the value of your home, it’s worth considering changing your water system to solar hot water.