The first consideration when making decisions about energy conservation is: "Where are you consuming and spending the most now?"
Look at this simple chart. You might be surprised at these statistics.
Heating Cooling Water Heating Appliances Lighting Electronics Other | 29% 17% 14% 13% 12% 4% 11%
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These are national statistics. Up north here in the midwest, heating is even higher.
If the average annual utility cost is $3000, then the cost of hot water is over $400 per year. Even though it might take 10 to 15 years to amortize the investment in a solar hot water system, it's worth it. Of course the ultimate goal is to reduce or eliminate that $1500 to $2500 cost of heating your home. That's the challenge.