Consumers have had more options than ever in recent years when it comes to the various solar water heaters on the market. With that in mind, a startup company known as Sunnovations has announced its own new product in this rapidly expanding market.

According to the company, homeowners can save up to 75 percent on their water heating bills by using solar technology, while also offsetting carbon emissions equivalent to several tons per year. Solar water heaters also give homeowners the same level of service they would expect from traditional systems.

"The cost saving and environmental remediation opportunity that solar hot water represents has been sorely underappreciated in the US. Sunnovations has set out to change that by bringing clarity to the cost-saving and environmental benefits to the homeowner as well as standardization and simplicity to the technology behind solar hot water systems," said Sunnovations CEO Matt Carlson.

Homeowners can receive various federal and state tax credits for investing in solar water heaters, which helps the systems pay for themselves more quickly than ever.

The same tax credits apply to home photovoltaic panels and the growing variety of other solar energy systems currently on the market.