Should I install a solar water heater?

Solar water heaters use rooftop collectors to heat water using sunlight, reducing water heating costs by 50 to 80 percent. They work well in South Jersey's climate, though they need a backup system for cloudy days. Installation costs range from $3,000 to $7,000 after federal tax credits. The payback period is typically 5 to 10 years. Solar water heaters last 15 to 20 years and add to your home's green credentials.