Cost / Benefit of Apricus Evacuated Tube Solar Hot Water System
The approx value of a evacuated tube Solar Hot Water System, Electric boosted, Glass Lined Tank, mid element, 30 Manifold, 30 Tube & Heat Pipes, 315ltr Tank, Pump, Controller is $5013.00 (after STC excluding GST) [Available STCs value included in above are based on 37 STCs c $31.00 / STC = $1,147.00].
If we assume that approximately 35% of your total energy bill (say 2000 kWh per qtr for a 4 person home) is used on an existing electric storage hot water that that you are pay approximately 26c/kWh for your electricity (Approximately 13c/kWh if you use off-peak electricity to heat your hot water).
It can be expected that you will be able to save approximately 80% of your hot water bill by installing an evacuated tube Solar Hot Water System.
Saving per Qtr = 2000 x 0.35 x 0.80 x 0.26 = $145.6
Approx Saving per year = $582.40
|Payback period||= ($5013.00)/$582.40
= 8.61 years
|Return on investment||= Yearly Saving/Capital Cost x 100
= 582.4/($5013) x 100
Based on figures calculated 15/02/13.