On the average pool bleach and a SWG break even in the very long run, though on any particular pool it could come out slightly better one way or the other. If you factor in the capital cost of buying the SWG up front instead of buying bleach over time, bleach is a better deal.
Most people I know that go with SWG do so for convenience. If you travel a lot and the pool is left unattended for several days at at time, a SWG is the way to go.
In general, the economics swing more towards the SWG when a pool that is in full sunlight is larger in volume. That's because the cost of the chlorine linearly scales up with the volume of pool water while the cost of larger SWGs scales up less than linearly and generally the electricity cost is a minor part of the overall cost -- it's mostly about the capital cost allocation (initial cost and ongoing cell replacement).
Most people I know that go with SWG do so for convenience. If you travel a lot and the pool is left unattended for several days at at time, a SWG is the way to go.
It certainly is convenient. I will dose my pool at 10:00 this morning and I am 700 miles away
Even with my cheap Intex stuff, I figure I would just have to replace/maintenance stuff earlier making the cost probably the same as the better SWG systems.
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