Saturday, October 26, 2013

What is the payback period?

What is the payback period?

This depends on unknowns such as the future price of fuel and electricity.  That said, the payback period for 2 people with average water consumption should be less than 5 years.  For larger families, the payback period could be significantly less.

To work out if a solar water heating system is worth installing from a financial perspective, you need an approximate idea of how much you spend on hot water throughout the year and when you use it.  You can then establish how long it takes to get back your investment in the solar system.

Remember that a solar system also adds value to your property and you will be making a significant contribution to reducing your carbon footprint.

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