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What It Costs
A solar hot water heating system provides the following economic benefits:
- With state and federal incentives, most systems pay for themselves within 3—10 years
- You will reduce your water-heating bills by hundreds of dollars annually
- A solar hot water system will hedge the impact that rising energy costs have on your home
- Adding a solar PV system to a home increases resale value, by at least half the cost of the entire system
Here is a sample residential solar hot water system:
| Cost for Solar System | |
Equipment Costs + Labor |
$ 7,500 |
System Cost Before Rebates and Incentives |
$ 7,500 |
Less Federal Tax Rebate |
$ 2,000 |
Less Green Energy Ohio Rebate(proposed) |
$ 1,000 |
Total System Cost AFTER Rebates and Incentives |
$ 4,500 |
| Key Numbers at a Glance | |
Estimated Annual Utility Savings |
$ 450 |
Estimated 20 Year Savings |
$ 9,000 |
Estimated Annual CO2 Reduction |
3.35 tons |
Property Value Increase |
$ 4,500 |
