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Cheap Hot Water? Just Add Sunshine
January 27, 2010
Gwendolyn Bounds, Wall Street Journal
Bill Banack doesn’t fancy himself an environmental “fanatic,” but his showers, dishwasher and washing machine all use renewable energy these days. The source: three slim solar panels perched atop his 2,200-square foot Hadley, Mass., home. They don’t provide electricity—they send him heat for hot water.
“I’m not belittling the green movement, but mostly we wanted to save money,” says Mr. Banack, who now shuts off his gas boiler in the summer except during stretches of cloudy days. Mr. Banack estimates his heating-fuel bills have dropped at least 25% since adding the system, which was made by Germany’s Stiebel Eltron GmbH and cost about $6,000 after tax credits. “This is a form of independence,” he says.
As more homeowners are discovering, you don’t need a super hot climate and tens of thousands of dollars to go solar. In many cases, all it takes to offset two-thirds of your hot water bill is a couple of panels resembling skylights, an 80-gallon water storage tank and some shade-free southern rooftop exposure. Costs range from about $2,000 to $10,000, sums that can be halved thanks to hefty new federal and state incentives. Just last week, California launched a cash-rebate program that will average $1,500 for residents to install solar water heaters at home.
