SYSTEM
COST
What do Solar Hot Water Systems Cost?
A typical solar hot water system
consists of solar collectors, which capture the sun’s
heat, a solar storage tank, pumps, controllers, and a
heat exchanger. A solar hot water system is hooked into
your existing hot water system, effectively “pre-heating” the
water so you do not have to use as much fossil fuel to
heat your hot water every day.
Typical Solar Hot Water
System – Cost Analysis
This is an example of what a typical system might
cost. A site visit is needed to determine actual
project costs.
Solar
Hot Water System
MINUS the Federal Tax Credit
MINUS the State Tax Credit
Cost after Tax Credits
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$9,900
-$2,000
-$2,475
$5,425
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Solar Hot Water Production
A 2 flat panel/or 20 tube solar hot water system will
provide ALL the domestic hot water needs for a family
of 2 – 3
from May through September and about 30% of those needs
from October to April. Energy Savings
Your energy savings is dependent on how you heat your
existing hot water. The following is the estimated
savings per year
based on the original heat source.
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If
hot water is
heated by:
Propane
Electricity
Oil |
|
Then
estimated
savings per year is:
$842.00
$794.00
$556.00 |
For this example we are assuming
that the boiler efficiency in this example is 60%
and the price of
fuels is $3.00
per gallon for propane, $0.16 per Kwh, and
$3.00 per gallon for heating oil. Please note that as energy prices continue
to rise, the estimated savings increases proportionally.
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