If you have a pool, please heat with solar. It is the most efficient method, has a better payback than other solutions, and you can heat your pool to virtually any temperature year round. Most importantly, it is a low cost investment with big payback for the environment.
Get a Solar water heater for in the home. Electric is far more expensive. Natural gas is usually a little less for total cost of ownership, but not enough to not go green.
EXAMPLE: A Do-It-Yourselfer with a family of four installs a two panel (40 ft2) Open Loop system costing $2,500.00 by him/herself.
They can expect to see an immediate saving off their electric bill (at 10¢ per kWh) of about $320.00/year. That’s a 12.8% return on investment (ROI).
But, the 30% Federal Tax Credit ($750.00) will bring the actual cost of the system to $1,750.00.
The return on that investment with the Federal Tax Credit is 18.25%.
Since most families are in the 30% income tax bracket, you would have had to earn pre-Income Tax $457.00 to pay that electric bill. Now, your rate of return on what you would have actually had to earn to pay for that electricity is 26%!
Suppose you paid $500.00 for a helper and some supplies. The cost would be $3,000.00 ($900.00 Income Tax Credit) that would bring the above returns (respectively) to 9.375%; 15.25% and 21.75%.
Suppose your electricity cost 15¢ per kWh (as it does in parts of Florida). Your savings would be $480.00/year, $686/year Pretax.
Do it yourself for $2,500 for a 3.8 year, 26.3% ROI, You have a Handyman do it for a 4.37 year, 22.9% ROI!