Solar Water Heating System does have a payback, and it can vary from three to ten years. But it may be more useful to think of SWH System as an investment that yields an annual return, much as a bank savings account provides interest. A solar water heater will generate savings that can equal a bank account generating between a ten (10%) and twenty percent (20%) annual return, and the savings are not taxed as income, as is the interest you earn at the bank.
The truth is, if you want hot water… you will be paying for that heat. You may prefer to pay your electrical bill forever, or you may wish instead to go solar, and become generator of your water heating. Solar Water Heating is simply the best investment available today because it guarantees a return on money that you will otherwise “burn” and helps you develop equity as you bank your savings.