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The Economics Solar water heaters, sometimes called solar domestic hot-water systems, can be a good investment for your home or business. Solar water heaters are cost effective for many applications over the life of the system. Although solar water heaters cost more initially than conventional water heaters, the fuel they use – sunshine – is free. Solar heating technologies can be used in any climate. How much will it cost? That answer depends upon the type system you utilize and your geographic location. The cost-effectiveness of applications depends on specific circumstances, such as the type and cost of your usual source of energy. Most residential solar thermal systems cost between $2,000 and $4,500.
A solar water heater should save between 50 percent and 85
percent
of the hot water portion of the monthly utility bill. Although this is more than
the cost of a conventional gas or electric system, today’s solar water heating
systems are cost competitive when you consider your total energy costs over the
entire life of the system. Businesses should base solar decisions on life-cycle
costs analyses, which include the cost of operating and maintaining a system
throughout the anticipated service life. This is important since solar
technologies are typically expensive to purchase, they require minimal
maintenance, no fuel, and produce no emissions, which makes them a good
long-term
investment.
For residential customers, OUC has partnered with Orlando Federal Credit Union to provide low interest loan options for solar installations and help keep the net monthly cost low for our customers. Additionally, there are Florida state rebates and federal tax credits available to help minimize the cost. Solar Programs | The Technology | The Economics | The Performance | Learn More |
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