News flash: Last Thursday, regulators approved a huge rebate program for homeowners and businesses that install thermal hot water heaters. To be honest, we thought rebates for solar hot water heaters already existed (seeing as rebates for solar panels have been around for so long)! So, we're glad to hear the time has finally come.
According to the San Francisco Chronicle, regulators have approved a $350 million rebate program for solar thermal water heaters. The hope is that the program will incentivize more California homeowners to use the sun to heat their water (something that can save tons of energy), just as the rebates for solar panels has grown the state's solar industry.
According to the article, a solar water system can cost between $5,000 to $7,000 and will cut a home's natural gas bill in half—"the average residential rebate will start around $1,500 but eventually will fall to $550. The program will run for eight years or until the funding is used up, whichever comes first."
Good news for all you California residents who have been thinking of making this sort of investment!
Get more info at the SF Chronicle
Image: John Blanchard/The Chronicle