Compare that with sticking the £4k in the bank and getting 5% interest. That's £200 per year. So investing £4k in solar heating doesn't save money at all, it loses money.Gasguru said:So the customer saves 50% fuel per year on their hot water by installing solar panels.
Say the average gas bill for water is £200.
Thats a saving of £100 per year.
£4000 / £100 = 40 years payback time.
At the end of 10 years you've made £2k + interest on that if you reinvested it, and your original deposit is still intact and instantly available.