I have cut my warm water costs by 80% with balcony solar panels. I have a warm water heating pump with 600 W electrical power. My little server turns it automatically on when the solar access power is greater than 540 W (measured by the smart meter). This generates usually enough warm water for our household.
Also the solar panels cover to idle power of the house of 50-100 W very easily during daytime. This pays off in a few years and it reduces my carbon footprint and that of my neighbors.