For the past decade SRP’s solar policies were designed to help increase the demand for solar and drive down costs until the solar industry could stand on its own.
Quick Facts: Solar Hot Water
Updated: January 20, 2014
- Solar water heaters pay for themselves in 3-10 years, depending on your hot water use and whether you are comparing to gas or electric water heating.
- A simple passive system only adds about $15/month to your mortgage and pays for itself long before your mortgage is paid off.
- The total costs (initial cost, fuel, maintenance) over the life-ycle of a solar water heater is one of the lowest of all water heating systems available.
- Solar increases the value of your home and provides an appealing sales feature.
- Your solar equipment has value independent of your house. You could sell your solar equipment or take it with you when you move.
- Take advantage of state and federal income tax credits (25% up to $1000 state; 30% federal) and exemption from state sales tax.
- Utility companies offer rebates for the purchase of solar equipment including solar water heaters. Check with your utility to see if any rebate applies in your area.
- Increased use of solar will help decreases environmental problems caused by burning fossil fuels.
- Use of solar energy creates quality local jobs by expanding the local solar industry.
- Use of solar provides you with more independence in your personal life.