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How Much Does It Cost
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Solar hot water systems are easier to get a rough estimate than wind power or solar power systems. Solar hot water systems often come as pre-designed systems that then are customized to fit your home. Below is a simple example of a residential solar hot water system.
Example of Residential Solar Hot Water System
In this example we use a system that costs $10,000 and will save 2400 kWhs per year. In addition we assume you are a PGE power customer using an electric hot water heater.
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| $10,000 |
Generic solar hot water system |
| ($960) |
$0.40 per kWh saved incentive from Energy Trust |
| $9,040 |
Amount home owner pays contractor or finances |
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| ($2,712) |
30% Federal tax credit at end year 1 |
| ($1,440) |
$0.60 per kWh saved from Oregon RETC |
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| $4,888 |
System cost at end of year 1 after all incentives and tax credits |
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