If I install a Solar hot water system will my gas bill be significantly reduced?

Question

At the moment I have a gas hot water service and I am thinking of replacing it with a solar hot water system. My question is, will I save much money on my gas bill? It costs a bit to change over and I want to figure out if it's worth it in the long run. If anyone has changed over to solar I'd be interested to find out how much your gas bill dropped by and also what state of Australia you are in. Also I am located in Victoria.

Thanks for all answers in advance.

Answer 1

My system has reduced my propane consumption by 15-20% but I still have a propane system for times when the sun is not available (morning showers).

It works out to roughly a yearly savings of $150-$200.

For a system that cost $2000 to install and requires yearly maintenance the pay-back will be roughly 10-20 years.

Most people will find that improved sealing of a home to prevent loss of heat and additional attic insulation to be the most cost effective addition to their homes. The sealing is also not that difficult to do by yourself (several tubes of caulk and some sweat equity). Even blowing insulation into an attic is a do-it-yourself job.

Answer 2

You should save 60% to 70 % savings on your gas bill.

The payback cost for Australia is from 2 to 10 years, then your making money. Check out this info.

http://en.wikipedia.org/wiki/Solar_hot_w...