Solar Thermal Energy
The sun produces an enormous amount of energy on a daily basis and man has been using it to his advantage for thousands of years. Today’s technology allows us to capture and store the sun’s energy in many different ways. Solar thermal systems can heat water for domestic and space heating as well as air conditioning when combined with central heating systems.
We offer the most efficient solar thermal flat plate collectors and storage tanks available on the market today. These systems when sized properly can meet your entire domestic hot water demands, compliment your existing heating and cooling systems while saving you a substantial amount of money over the life of the system. These systems are available for residential and commercial use in many industries. Solar Thermal Systems are the most cost effective way in which you can reduce your energy consumption and have the fastest return on initial investment!!
Solar Thermal Systems are eligible for a 30% Tax Credit of the total installed cost of the system for individuals and commercial installations.
Grants are available to businesses in lieu of the tax credit and covers the cost of “Depreciable or Amortizable Property”, the Gant is sent within sixty days of the system being placed in service or from the time the application is received by the Department of the U.S. Treasury.
State Tax Credits are available for residential installation in the amount of 15% of the system up to $1,000 of the cost of the system.
0% Loan programs are available for residential and multifamily dwellings for Solar Water heating systems and many other improvements to building efficiency.
The terms are 0% for loans $2,000 to $10,000 for a period of up to 7 years!!
Utility Rebate Program is available for residential, multifamily dwellings, and commercial installations in lieu of the 0% loan program. This program is only available to participants that are natural gas customers. Rebate amounts vary per utility provider.
Consider the advantages of year round water heating with a Solar Thermal System. It will provide instant equity and return on investment is reached in 8-10 years. You will also have made a smart and environmentally friendly investment that will provide 30 to 40 years of service with minimal maintenance!!!
View the 2009 Solar Hot Water Incentive Application (PDF)
The average residential Solar Thermal System designed for domestic Hot water will cost an about $8, 000 to $10,000. Prices will vary for all systems designed. Let’s consider the more expensive system.
Total Installed Cost $10,000
Federal Tax Credit 30% x $10,000 = $3,333
State Tax Credit 15% up to $1,000
Utility Rebates for Natural gas customers 15% of project cost up to $1,500
For this example we will not deduct the utility rebate as it may not apply to all clients.
Total installed cost after tax credits $ 5,777
This system has already paid for itself due to the fact that it increases the value of your home in excess of the actual installed cost. The actual cash value return on investment is dependant upon your existing system and the rate of inflation of energy prices. We will use 10%
| |
Electric Water Heater |
Natural Gas Water Heater |
Solar Water Heaters |
| Year 10 |
$1,013 |
$584 |
$0 |
Considering that this system will operate at $0 per year for Thirty to Forty years the amount saved compared to a Natural gas water heater is almost $30,000. |
