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Savings

Typical Savings

For a 2 panel system on a typical home ("average" sized system), you should expect to obtain 48 to 53% of your water heating energy from the sun.  The retail price for this "average" system is $6,000 installed cost.

With the subsidies planned for this project, we hope to get the price down to as low as $1,250 for Manitoulin homeowners.

The "average" sized system is 2 solar collector panels on the roof.  In the basement, utility room, etc., we would install a new storage tank (electric water heater without the heating elements), recirculating pump, heat exchanger, and the control panel (see Solar Collector System for full details).

This should produce savings of approximately $400.00 per year.

Typical savings from solar water heating

Economic Analysis

NRCAN's simulation software RETscreen was used to calculate the typical savings, assuming a family of 4 with a 2-panel solar collector installed, as compared to their current electric water heater.

The analysis used the weather and sun data for Gore Bay Airport, 240 litres/day of water consumption (typical for a family of 4), and the $4,000 subsidized purchase price.  It assumed there will be an additional $50/yr in maintenance & repair of the solar equipment (glycol/water change required every 5 years).

The analysis shows:

  • A savings of $408 per year, for a 9.8 year payback of the homeowner's investment.
     
  • If the system lasts for the expected 25 year, the homeowner can expect to save a total of $10,200 through reduced electrical consumption over that 25 year period.
     
  • In addition, we can expect to save 0.9 tons of CO2, which is equivalent to the removal of 0.2 cars from the road.

For the detailed energy, financial, and environmental analysis report, click here:
Solar Water Heating for Manitoulin Island, Detailed Energy/Environment/Economic Analysis
 

Case Study

Here are some typical savings generated by the solar water heating system for a home in Ontario.

Taken from http://www.rideaulumber.com, an Enerworks Dealer

Rural home

  •   40 gallon electric water heater

  •   Oil furnace

  •   Gas fireplace

  •   Two panel Enerworks 60 gallon storage

  •   Installed April 8th, 2006

Month

Year

Year

Year

 

2005

2006

2007

Jan

2359 A

3058 A

1966 A

Feb

2402 E

2708 E

 2557 E

March

2970 A

1835 A

 2446 A

Subtotal

7731

7601

 6969

April

2228 A

1354 E

 1485 E

May

1791 E

1747 E

 1572 E

June

1179 A

1572 A

 1310 A

July

1179 E

1485 E

 1048 E

Aug

1616 E

1747 E

 1310 E

Sept

2271 A

437 A

 1305 A

Oct

1835 A

1529 E

 

Nov

1835 E

1966 E

 

Dec

2402 A

1223 A

 

YTD

 

 

 

subtotal

16336

13060

 

 

 

 

 

YTD total

24067

20661

 

 

 

 

 A= Actual Electrical meter reading

E= Estimated meter reading

 

     

 

 

 

Electricity Savings= 24067-20661= 3406kW-hrs/yr @ $0.13/kW-hr = $442.78/yr or $49/month savings since installed.

With electricity transmission losses, debt retirement, and monthly fee, your net electrical charge rate is equivalent to $0.155/kW-hr giving even greater financial savings.

While the current residential subsidized rate is just 5/kW-hr.  But that's just the start.  There is 0.92% extra charge for electricity lost or stolen by others ("Adjusted usage"), a delivery charge, a debt retirement charge, and GST.  In all, a typical Manitoulin homeowner pays 16.77/kW-hr (Dec, 2007 rates).  If you use more than average, you go out of the subsidized rate, and pay much higher still.
 

Decision Time

You have seen the equipment.  You know what the typical solar water heating system will save.  It's time to decide if you are going benefit from investing in solar water heating; now or later.

If you invest now, the savings start sooner.  You avoid the rush.  You avoid wasting your hard-earned money on expensive fossil fuels and electricity.

Right now, there is a government funding program that will reimburse you $1,000 of your cost to install solar water heating.  Right now, there is no Provincial Sales Tax.  These government subsidies are to encourage you to buy now, not later.  If you wait until everybody else is already done it, the subsidies may have disappeared by then.  This is the worst of all scenarios.  You will have paid the high energy cost for a long time, AND you miss out on getting the government subsidies.
 

Next Step

A.   Phone Consultation

Before you go any farther, you may have some questions and concerns that need answers from an expert.

For free, you can telephone or email PS, and we will listen to your situation, answer your questions, and assist you in getting to your next step.

Phone:   +1 (705)-377-4039

Email PS with your Solar Water Heating Questions
 

 

B.   Analysis for Solar Water Heating for Domestic Hot Water (Shower, Dishes, Taps, Laundry, etc.)

Before you buy, you need to confirm that solar water heating is appropriate for you, your lifestyle, your house design & local environment, and your particular needs.  PS can help you with this important next step by doing a solar site survey.

For $200 plus taxes, PS will:

  • Complete a Hot Water Needs Assessment, including estimating your hot water consumption on a weekly, monthly, yearly basis.
  • Inspect your current water heating system
  • Identify 1 or more potential site(s) for the solar collectors
  • Determine the solar energy site conditions and local shading for the potential sites.
  • Obtain historical weather data (ground station &/or satellite data) for your site
  • With your input determine equipment location, installation methods, what options you wish, and fully define the project
  • Develop a detailed cost estimate for the proposed project
  • Do a computer simulation for the next 25 years on the estimated energy use and $ savings for your site
  • Review all materials, and fully answer your questions.

Sounds Great !   Sign me Up

 

C.   Analysis for Solar Water Heating for Space Heating

Before you buy, you need to know how much energy you are using to do space heating for your building(s), how much solar energy is available at your site, and how solar heating compares to other alternatives.

For $400 plus taxes, PS will:

  • Tour your house and property, and inspect it for energy savings opportunities
  • Take approximate measurements of key heat load factors for your chosen building
  • Obtain historical weather data (ground station &/or satellite data) for your site
  • Estimate the heat load for your building, month by month and annually
  • Complete an Energy Audit Needs Assessment
  • Inspect your current space heating system(s)
  • Identify 1 or more potential site(s) for the solar collectors
  • Determine the solar energy site conditions and local shading for the potential sites.
  • With your input determine equipment location, installation methods, what options you wish, and fully define the project
  • Develop a detailed cost estimate for the proposed project
  • Do a computer simulation for the next 25 years on the estimated energy use and $ savings for your site
  • Review all materials, and fully answer your questions.

Sounds Great !   Sign me Up

 

D.   Both B. and C. (Solar Water Heating for Domestic Hot Water, plus Space Heating)

For $500 (a $100 savings over doing them individually) plus taxes, PS will do both the B. and C. analysis described above.

Sounds Great !   Sign me Up

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Page Last Modified:   04-May-2009 05:45:36 PM -0500