Systems: Solar Hot Water Systems
A typical residential Solar Domestic Hot Water System consists of two 40 square feet of panels and an 80 gallon storage tank. This will supply 70-80% of the annual hot water usage for a family of four.
Typical costs and incentives for a solar hot water system:
| Equipment and installation cost: | $8,600.00 |
| Federal income tax incentive: | $-2,580.00 |
| New York State income tax incentive: | $-2,150.00 |
| Net System Cost: | $3,870.00 |
| Estimated Payback time, w/o real estate appreciation: | 5-6 years, depending on fuel costs |
| Estimated Payback time, with real estate appreciation: | positive cash flow from start |
For more information on how Solar Hot Water systems work, check out Solar Hot Water: How it works.
Systems: Grid Connected photovoltaic
A typical residential grid-tied system in the Hudson Valley is rated approximately 4.5 KW DC. Depending on the size of the house and the types of appliances installed, this will offset 50-80% of the electrical use.
Typical Costs and incentives for a 4.2 KW Grid Connected Photovoltaic system:
| Equipment and installation cost: | $28,980.00 |
| NYSERDA* rebate: | $-7,350.00 |
| Initial customer cost: | $21,630.00 |
| Federal income tax incentive (after NYSERDA rebate): | $-6,489.00 |
| New York State income tax incentive (after NYSERDA rebate): | $-5,000.00 |
| Net System Cost: | $10,141.00 |
| Estimated Payback time, w/o real estate appreciation: | 10 years, depending on electric costs |
| Estimated Payback time, with real estate appreciation: | positive cash flow from start |
*NYSERDA: New York State Energy Research Development Agency. As of 1/11/2010 NYSERDA pays $1.75 per watt for photovoltaic systems (residential capped at 5,000 watts, non-residential capped at 50,000 watts)
This system will generate electricity that costs $0.09 per KWh and save 92 tons of CO2 during its 25 year life span. For more information on how Photovoltaic solar systems work, check out Solar Electric: How it works.