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Source: Cavana Hot Water
To accurately determine which hot water system is best for your home you must conduct a cost benefit analysis. Let’s start with the solar powered hot water systems.
Traditional Hot Water Systems
The problem with solar systems becomes apparent when you consider that 55% of Australian households have one or two occupants. As our population continues to trend towards an older demographic, that number is likely to stay the same or even continue to grow.
Let’s examine the hot water usage of a single occupant retiree. Their quarterly hot water usage might be as little as $30 per quarter. Reducing that number by the full estimate 65% for a solar hot water system produces an annual savings only $42 per year.
It would take this type of homeowner forty years to achieve the same type of savings as our larger family example above. Considering that most hot water systems have a standard warranty of ten years, it makes much more sense for a smaller home with limited demands on hot water to find a less expensive system, such as a small gas-heated storage tank.
As you can see the specific circumstances of your home and your hot water demands has a significant impact on which hot water system is best for you.
Solar Hot Water Systems
Solar systems focus on putting one or two solar panels on your roof, dedicated to your hot water system. They convert the energy from the sun into heat for a hot water tank, also on your roof. While solar powered systems will save you money on your monthly bills, you must also consider the cost of equipment and installation.
Some estimates say that solar hot water systems will reduce your energy consumption by as much as 65%. This number is of course based on averages, which can vary dramatically.
Let’s assume that your hot water bill is $300 per quarter for a full-sized family. If you cut that bill by the full estimated amount of 65%, then you are saving $420 per year. Depending on the initial cost of your solar hot water system, you will probably pay it back in full in monthly savings within ten years ($4,000+ total savings).
The more hot water you use, the more benefit a solar system has even with the sizeable upfront cost.
Find Out More at Cavana Hot Water
The best way to accurately assess your hot water costs, from installation to your monthly bills, is to contact Cavana Hot Water. Using your monthly bills from the last year, they can precisely determine what your hot water usage is and then build the best hot water system for your custom needs. The goal is twofold, to ensure that you have as much hot water as you need as well as to save as much money as possible in the long run.
They have a full range of hot water systems, from solar to traditional tanks. In addition, they offer all of the major brands that Australians have come to trust. Call 02 9829 6299 to speak to a friendly customer service representative on your new hot water system today!