Solar Hot Water System
CDH Energy Corp.
Web Address: http://cdhenrgy.user.openhosting.com/shw_nws/shw_nws.py
In the city of Syracuse, Solar Panels were installed on a home to reduce energy spent to heat hot water. Although the Solar Panels do not fully heat water, they allow water to be brought to a warm state prior to the heating process rather than have the process begin with cool water. By initiating the hot water process, these panels reduce the amount of non-renewable energy used in-home.
This SHW system saved about 96 therms on an annual basis in 2010. Assuming an average an average gas cast of $1.20 per therm, the system based on the installed cost of $7,400 is over 60 years. Even with the federal solar credit of 30%, the net outlay by the homeowner becomes $5,180 with a simple payback of 45 years. If the backup water heater had been electric (with an Efficiency Factor of 0.9) the savings are about double and the payback after considering the tax credit is just over 20 years.
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