Solar Water Heater Cost
For most clients, their biggest concern and most pressing reason for wanting a solar water heater will be cost. The price of oil is constantly rising, which means that the cost of cooling or heating a home or water with gas or electric power is rising as well. Solar provides effective relief for all of these issues by reducing dependence on oil completely. The solar power takes the place of the oil, offering thorough heating and cooling with minimal supplementation from oil sources.
The best way to calculate savings is by estimating the time until the solar water heater cost is completely repaid in energy bill savings. First, consider the total installation cost of the unit. Make sure to add in labor, etc and subtract any state or Federal incentives to ensure an accurate figure. Next, determine the customer's typical annual energy usage in dollars and in kilowatt hours (the standard unit of energy.) Finally, determine how much the unit is going to produce. This can be a complex calculation because it relies on more than just the capacity of the unit. You'll need to factor in the likely weather and latitude of the location.
Once you have these figures, simply determine how many kwhs you've saved for your client. Multiply that number by the cost of a kwh in that state, and you can produce an exact amount of dollar savings per year. Divide the initial cost by this number and you can predict a date when the amount spent will be reimbursed by savings.
For Contractors Building New Homes: if your new construction meets certain standards for energy efficiency, you may be eligible for a $1,000 or $2,000 tax credit (depending on the exact standard met.)
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