Heating water is a huge expense for apartments, making solar hot water a smart way to save money. A solar hot water system is one of the least expensive renewable energy sources a business can invest in, and with a 30% Federal Tax Credit, new State Rebates, accelerated depreciation, and other financial benefits, the cost of a solar hot water system can be reduced by 50%.
The best candidates for solar hot water are buildings with high and consistent water usage. Systems can efficiently be designed to deliver water up to 160 degrees Fahrenheit. For commercial use, a solar hot water system will feasibly cover up to 60% of the energy load for heating the water. Typical applications are multi-family dwellings, hospitals, senior homes, restaurants, hotels, fitness centers, and food and beverage processing, to name a few.
A solar hot water system can easily be retrofitted to a building, but there are times when it’s more feasible than others. If the boiler or hot water system is due for replacement, installing solar hot water at the same time can eliminate thousands of dollars from the investment, by choosing a hot water tank and/or boiler compatible with solar. Integrating solar into new construction makes it even more advantageous, since installation is simpler.