Profile picture for dignlifeinaz

Is a solar water heater going to boost my value the $6800 the contractor claimed it would?

After current rebates, a solar water heater (80 gallon plus 50 gallon) would cost about $1600 to install.  My gas water heater now costs about $20 a month to run.
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June 04 2009 - Phoenix
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Answers (9)

We should not just worry about cost,
What about the environment?
We should all protect the earth for our children.
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January 09 2010
If you are talking resale value, I have no answer. If you are talking about ROI of solar water heater, it depends on many variables, including how many users there are.

Obviously a family with three teenage kids, taking 10 showers a day, doing 5-6 full loads of laundry a week etc., etc, etc. will recover the investment much sooner than 2 empty nesters.

With tankless water heater the situation is similar. I have one at home and we love it, but, we did not get it to save money. We got it because we have a two person, corner bubble tub which we could not use in winter, it takes 90gallons to feel up. Our old gas water heater did not have enough hot water.
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January 07 2010
i would say to you to goto your assessor's site, and look up the adjustments, and see if it provides for solar adjustments. if so, there's your dollar value.
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January 06 2010
never in a million
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September 13 2009
Profile picture for Alex SD
Consumer reports in 10/'08 found that a tankless water heater would reduce your gas bill by about 25%.  Tankless water heater salespeople will tell you 50%.  In my case a tankless should pay itself off in 8 years.

Solar water should be a similar calculation.  What do independents like consumer reports say it'll save you?  I think that's the reason to install-- it'll pay for itself, rather than assuming you're going to get a >100% ROI after a sale. 

You're assuming some appraiser is pretty dumb for a 3x ROI, not including gas savings.
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June 08 2009
Profile picture for wetdawgs
The sales guy is nuts.  

If it increases the value $1600 you are breaking even.   If it adds green points to your cocktail discussions, you win also.
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June 05 2009
Profile picture for spolkyc
You are looking at about a 8 year break even, assuming solar covers 80% of your needs and in Phoenix this is probably very conservative (I would guess 90s% is more accurate). If you need to replace your water heater anyways probably more like 5 years (assuming $600 installed for a non-solar). 

I have read the solar will increase the property value about 3 times the investment.  This would come out to $4800 but the 3x is ball park and is usually said about PV which have power production warranties from 20 to 40 years.
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June 05 2009
Profile picture for bamkmartin
Not likely.  Sounds like another sales person trying to make a sale.
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June 05 2009
Profile picture for Mr Caveat
not even close, but you will get 30% back because of the president's stimulus. a tankless heater *might be* worth a couple of grand, but you have to realize energy savings are minimal and the cost of an average water heater is a few hundred... if you are going hypergreen then yeah you can charge more for the enthusiest, but a normal person... not so important

energy efficiency in heating and natural lighting(Solatubes or skylights) are far better investments.

outside of very rich, very trendy parts of CA, i dont think a solar water heater would add much resale value at all.
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June 05 2009
 
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