A recent study shows that using a solar thermal water heater is not just an environmentally-conscious decision, but it can also save you quite a bit of cash.
Progress Energy just released a report in which it notes that customers saved upwards of $235 a year by switching to solar thermal water heaters. That’s a whopping annual savings of 63% on the water heater portion of their power bills.
The Raleigh based company reported to the North Carolina Utilities Commission as a final part of a pilot project using 150 solar water heaters to test out the efficiency of the units.
Progress claims more than 15% of electricity used in an average home is used for heating water, so the solar thermal water heater would be a solid investment over the long-term. The biggest drawback is its high initial cost. Although currently the state of North Carolina offers a 35% tax credit. And of course, there’s also the 30% federal tax incentive.
Here are some basics about solar hot water
Cut 63% Off Your Power Bill With Solar Hot Water originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.
The Editorial Team at SolarFeeds is made up of knowledgeable solar industry insiders and experts who have a passion to share valuable, helpful and educational information. Aiming at becoming the best place to learn solar, the publication partners with industry thought leaders, journalists and influencers. If you want to publish your articles on SolarFeeds Magazine, click here.