Although solar water heater need investment in the early stage. However, when you install a solar water heater, it will slowly repay its value in the form of a lower monthly utility bill. At the end of your solar recovery period, your solar water heater will produce almost free hot water for many years in a row.
To calculate how much you can save, you need to know the following:
How much hot water does your family need every day.
How much hot water is used during the day. Using more hot water when the sun is low means relying more on expensive electricity.
The life expectancy of your solar water heater. The longer the solar water heater is used, the more money you can save.
With this information, you can determine how much it costs to run a solar water heater in a year. Compare this with your monthly electricity bill to see how much you can save by switching to solar.