Solar Hot Water Cost Example

A typical bottom line cost for a turn-key installation of a solar hot water system is $3,990.

• A typical solar hot water installation is approximately $7,700 before taking advantage of tax credits
• The federal tax credits are 30% or approximately $2,310
• The NC state tax credits are 35% but capped at $1,400
• The bottom line cost, after credits, comes to approximately $3,990.
• The cost of your installation may vary, but this is a typical cost.  Please contact RTP Solar for a quote.

The typical Solar Hot Water installation will include:

• Two 4’ by 8’ collector panels
• A new 80 gallon hot water tank (with electric element for backup)
• One Drainback tank
• One Solvelox unit which contains pumps, control unit, and heat exchanger
• Installation and all plumbing performed by a NC licensed plumber.
• All copper piping, fully insulated.

Value / Payback:

• After tax credits, a solar hot water installation is approximately $2,800 more than a standard hot water installation. The savings in energy bills can be approximately $40 monthly, yielding payback in less than 6 years. 

Tax Credit Notes:

• Tax credits are like cash.  A credit of $1000 is the equivalent of $1000 in cash. (Tax credits should not be confused with tax deductions where a $1000 deduction might be worth only $280.)
• Tax credits are dependent upon having tax liabilities, and can vary dependent upon income level and other factors. Customers should consult their tax advisers.