Solar Energy, Photovoltaics, and Domestic Hot Water by Plante Russell H

Author:Plante, Russell H.
Language: eng
Format: epub
ISBN: 9780124202139
Publisher: Elsevier Science
Published: 2014-04-18T17:25:25+00:00

Chapter seven

The Economics of Solar Domestic Hot Water Systems

Abstract

Following the economic criteria information presented in Chapter 6, this chapter discusses the cost savings of using solar domestic hot water (DHW) systems versus conventional systems to heat water and graphically illustrates examples of payback periods. Cost savings and payback periods are examined as long-term investments. A method to determine BTU output is illustrated with worksheet examples and tabularized sunshine percentages. The importance of cash flow is emphasized, and the chapter elaborates upon cost factors such as energy inflation rates, equipment, labor, maintenance, and system operation. Cost comparative analyses of electric utility versus solar DHW and examples of savings realized are graphically illustrated. Payback and break-even cost analysis examples with and without tax credit incentives using actual system quotations are graphically depicted. Future worth of savings using Single Payment Compound Amount Factor tables from Chapter 6 are discussed illustrating the long-term investment advantages of a solar DHW system over a bank or savings institution.

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