Ecuador is a country with energy needs, which should be efficiently met by means of technical and financial considerations. Existing policy promotes the change of the national energy mix to renewables. In this context, this policy will discourage the consumption of liquefied petroleum gas (LPG) by eliminating gradually its subsidy. Therefore, this research carries out a prospective analysis up to 2050 in order to determine the feasibility of installing solar water heaters as alternative to the conventional systems based on LPG and firewood. In the same sense, this paper includes: the determination of the solar energy potential of Peguche (a community located in Imbabura, Ecuador), trends of the solar system’s costs, and trends of oil prices and oil sub-products for three prospective scenarios. In order to evaluate the feasibility of the project, the payback period based on the savings in the fuel consumption is calculated. To conclude, the paper highlights the environmental advantages in the use of this renewable energy in terms of greenhouse gas emissions (GHG).