Thursday, April 1, 2010

Solar Thermal Hot Water

I am becoming increasingly disappointed with our solar thermal hot water system. Going back over my records, it looks like I spent $10,056 including parts and labor. The Federal Government is giving me a 30% credit for the system and it was deployed in 2009, after the cap was removed, so my end cost after the tax credit is $7040. The system works great in the summer, but in the winter, it barely makes it up to temperature. I would have to say that it might only be offsetting 50 % to 75% of my hot water heater bill. My hot water heater costs $500 per year, so at best, this is saving me $375 per year. At that rate, it will take me 18 years to reach payback.

My mistake here was using a contractor to put the system up instead of a company that specializes in putting these panels up.

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