Solar Water Heating can reduce pollution and dependence on fossil fuels, but it can also be a smart investment for building owners. A new solar hot water report based on recent studies by NREL titled "Smart, Clean and Ready to Go" describes the benefits of solar water heating:

Solar Water Heating: A Winning Investment

Cost is commonly thought to be the major barrier to the increased deployment of solar water heaters. But that is not the case—in many parts of the United States, particularly those with strong sunlight and high electricity or natural gas costs, solar water heating is a winning investment. In Hawaii, for example, which recently required the inclusion of solar water heaters on most new homes, solar energy is cost-effective everywhere, with simple payback times of 4.3 to 8.5 years. Payback times of seven to eight years have been estimated for typical residential installations in Florida.

Commercial establishments that use large quantities of hot water—such as laundries, hotels and food services—can also achieve reasonable returns on their investments in solar water heating.

Federal and state incentives—including tax breaks and upfront incentives—can further reduce the cost of solar water heating systems, making them even more attractive to consumers and businesses. But consumers are not the only ones to benefit from solar water heating. The installation of solar water heaters delivers economic benefits that extend well beyond the individual business or homeowner.

Among them:
• The value of solar water heating as a hedge against higher natural gas prices, reducing the exposure of consumers and businesses to the historically wild swings in gas prices.
• The value of reduced need for investment in natural gas pipeline capacity.
• The value of avoided emissions of pollutants such as carbon dioxide and methane, which contribute to global warming, and of pollutants that produce health-threatening smog and soot.
• The value of increased energy security and reduced prices of electricity and natural gas that result from lower demand.

 

In the US, solar water heating will work for over 50 - 75% of all commercial roof space, and benefit nearly 40 million homes. Installing these systems could reduce annual energy bills in this country nearly $10 Billion a year.

And what's the key barrier keeping this from happening?

"Adoption of innovative financing tools that ensure that those who install solar water heaters benefit from their investments immediately, as opposed to having to wait for years to break even on their investments," according to the report.

With the coming launch of Promise Energy, Adam Capital is solving this problem by providing commercial solar hot water PPA's with little or no money down for multifamily building owners. Solar Water Heating is indeed a winning investment: for tenants, and building owners, as well as our energy security and environment. Find out more at the Promise Energy website.