Saving on Energy Costs:

Getting a Great Return on Investment: How’s your 401k been doing lately? In these times of financial uncertainty an investment in a solar hot water heater can yield a 20% – 25% annual return on your investment. The average family of 6 will save more than $40,000 over the life of a solar hot water heater.

Qualify for Low Interest Energy Financing: Solar hot water heaters qualify for Maine State Housing’s Home Energy Loans. These loans are made available directly through your local bank. The interest rate is 3.95% for terms as long as 15 years with monthly payments as low as $35.00. FMI on Maine Housing’s Home Energy Loans

Federal and State of Maine Solar Incentives: You will receive a tax credit (bottom line credit not deduction) on your federal tax return for 30% of the installed cost of your solar hot water heating system.  You will also receive a 30% up to $1,000 State of Maine Solar rebate. The combined result of these two incentives reduces the cost of a solar water heating system by 40-60%. (Note: the State solar rebate is suspended at this time but will be reenacted using federal stimulus package money recently approved by the US Congress and President Obama.) View the federal tax credit and the state rebate forms.

Reducing Your Energy Dependence: An average family of four will save 600 – 800 gallons of heating oil or 2,400 kilowatts of electricity annually by installing a solar hot water heater. Note: these amounts are general estimates and your actual savings will depend on your particular situation.

Being Green: Solar water heaters use about the same amount of electricity as 2 seven watt night lights to produce 60% – 75% of your annual domestic hot water needs. You can reduce your effect on global warming by as much as 4,000 pounds of carbon dioxide a year.

Solar water heaters may be used in two ways

Solar Domestic Hot Water:

These solar heaters circulate a transfer fluid through one or more solar collectors on your roof. After being heated by the sun, the fluid enters the house where a heat exchanger passes the heat to your domestic water system. A storage tank, similar to a conventional hot water heater tank, then holds the heated water until it is used. Your traditional hot water heater (tank) is left in the system where it can turn on when there are cloudy days. Typically, a solar domestic hot water heater can provide 60-75% of your annual domestic hot water needs.

Solar Space Heating:

Solar space heating water heaters are typically much larger in size than a domestic hot water heater. The water is heated and stored in the very same manner as with the domestic hot water heater described above. Once the water in the storage tanks is heated by the sun, it is used to supplement the water previously heated only by your existing boiler. This is done by either tying the solar storage tanks into your existing heating system, or by installing a separate loop that feeds radiant heaters to heat discreet additional areas of your home. Either way, a solar space heater can provide as much as a 35% reduction in your annual heating costs.

Reliability:

Today’s solar hot water systems are very reliable. They have a typical lifespan of 25 years or more. Many of the components in a solar water heater are commonly found in a typical home’s conventional heating and plumbing systems. Maintenance of a solar water heater is minimal and no annual cleanings are needed, although a system check up is recommended every 5 years.

Solar water heaters are designed to be fully automatic, so your familiar lifestyle and water use will be virtually unchanged. However, your energy consumption and carbon footprint will be dramatically reduced!

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