Originally Posted by
Sturdee
Whilst I agree that solar hot water is good for the environment I don't agree with your electricity cost savings.
Three years ago when I replaced my HWS I looked into solar and found that electric was much cheaper in capital cost and preferable because of low running cost.
I have an electric mains pressure HWS running on night tariff and last year the annual cost of hot water was $ 152. If solar saves me 80 % it would ( without taking into account foregone interest income of the higher capital cost) take 28 years for it to have paid for compared with 5 years for my existing one.
Incidently only 6 % ( yes six ) of our electricity bill is for hot water.
Regards,
Peter