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Australia is prime for solar technology, logging plenty of sunshine hours throughout the year. This naturally leads to the question of whether investing in this technology for your home could provide more benefits than putting your money into shares.
Here are some of the advantages of investing in solar hot water compared to purchasing shares.
No risk you will lose your money
When you invest in a company, there is no guarantee you will make a profit. After all, there are many variables and unexplained occurrences that can prevent a company from being successful.
On the other hand, a solar hot water system can heat up to 90 per cent of your home’s water needs, meaning you are guaranteed to see lower electricity bills. This ensures a great return on your investment over the length of your solar hot water system’s lifetime.
An Apricus solar hot water system has a 15 year guarantee, which means these benefits will keep flowing as the years go by.
Blogger Victor Bivell invested in an Apricus Solar Hot water system and wrote an article about it in his blog Ecoinvestor. He said that while shares give a financial return, a hot water system gives hot water.
“With shares the capital can be withdrawn at any time for a profit or loss, whereas with a hot water system the capital is embedded in the house and the financial return is the money saved,” he said.
Rather than paying for electricity to heat your hot water, you can harness the power of the sun and become responsible for your own needs.
Once you have paid off the cost of your evacuated tube solar hot water system, any savings you see from thereon in will be pure profit.
No need to worry about gas or electricity hikes
Gas prices have been spiking around the country as this resource becomes more expensive. This means investing in solar hot water may help you to see further savings down the road, as you will not need to worry about how much it will cost you to heat your water – the sun’s energy is free!
Mr Bivell says gas prices have tripled in the past decade.
“If they do that again or even just double it will reduce the payback time to around 7 to 9 years. That’s a return of 11 to 14 per cent per year. After that, the savings and return rise exponentially,” he said.
Electricity prices are also on the rise. Kai Swoboda, from the Australian Parliament’s Economics department, said over the 10 year period to June 2013 these prices have increased on average by 72 per cent throughout the country.
A hot water system could provide you with the security of knowing you will remain unaffected by these price hikes as well as meaning your return may be greater than you thought.
If you invest in shares, you may be required to pay taxes on your dividends – taking away some of your hard earned money.
When you invest in solar hot water, there is no tax, you will just see the savings roll in as your electricity bill continues to be reduced.
Help the environment
Another great reason to invest in eco-friendly technology rather than in shares is the impact it will have on the environment.
Generating your own hot water is a great way to lower your carbon footprint, as it means you are using a renewable source for your requirements.
When you combine a solar hot water system with solar photovoltaic panels, you can provide any necessary top-ups yourself, ensuring your supply of hot water is as eco-friendly as possible.
To talk to the experts about the best solar hot water system for your individual needs, contact the friendly team at Apricus.