How a solar water heater can save you money
Before we get into the water heaters let’s talk about electricity cost , how much the Jamaica Public Service (JPS) charges per kW/h of electricity usage, and how much hot water you use on a daily basis or would like to.
Currently, JPS charges approximately JMD$41.00 per kw/h of electricity usage on average it takes 8 kw/h to heat 40 gallons of water to 60°C (140°F).
8 x $41.00 = $328.00
Which means it costs JMD$328.00 to heat 40 gallons of water. Now let’s assume you don’t use more than 40 gallons of hot water a day
$328 x 30 days = $9,840.00 a month
$9,840 a month x 12 = $118,080 a year
That’s how much it costs using an electric water heater (assuming you only use 40 gallons a day). Now let’s pretend a few family members from overseas come to stay with you for a few months, inevitably more hot water will be used maybe twice as much.
That is 80 gallons of hot water a day for around 3 months costing you $59,040.00 for that period alone resulting in an Annual cost of $177,120.00!
If you purchase a 42 Gallon Solar Water Heater from Conserve It with a 12-year agreement for USD$1,413 you completely eliminate the cost of hot water from your electricity bill. It would take a little under two years in savings from your electricity bills to payback for a solar water heater , which would deliver hot water at no cost for at least another 10 years.