Installing a solar thermal system protects you from variances in utility charges. As you’re probably aware, natural gas and electric prices fluctuate. As an electric or natural gas user, you’re also vulnerable to significant price hikes if there’s a fuel shortage, making your operational costs skyrocket. Unlike natural gas and electric energy from your utility company, the sun provides its energy free of charge. Solar thermal systems allow you to reduce or eliminate your need for electric or natural gas fuel to heat hot water, depending on whether or not you have a backup hot water system in place. Solar thermal hot water systems typically drop water heating bills between 50% and 80%, which can be a huge savings depending on your hot water use. Other factors, like system sizing, can also affect your energy savings.
It’s true; solar thermal systems are more expensive to install compared to electric or natural gas water heating systems. The upfront price tag can be a turn off, which is why it’s so important to consider the big picture when it comes to comparing costs. Opting for the lower upfront cost of a natural gas or electric hot water system can haunt you later, and end up costing you significantly more than a solar thermal system.
Don’t let installation quotes deter you from installing a solar thermal system that can save you big money over its lifetime. If fact, there are many financing programs which can help cover the cost of solar thermal installation, including a new mortgage or refinance. Federal tax incentives and rebates from local energy programs can further reduce your installation costs, making the installation price tag on your solar thermal system less.
Smith Sustainable Design installs solar thermal systems which can save you money while providing many years of reliable hot water for your home or business. Call us today to learn more about your installation options, and about the energy savings solar thermal provides.