Solar Hot Water Cost Example

A typical bottom line cost for a turn-key installation of a solar hot water system is $3,400.

• A typical solar hot water installation is approximately $6,850 before taking advantage of tax credits
• The federal tax credits are 30% or approximately $2,055
• The NC state tax credits are 35% but capped at $1,400
• The bottom line cost, after credits, comes to approximately $3,400.
• 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 $2,400 more than a standard hot water installation. The savings in energy bills can be approximately $40 monthly, yielding a 5 year simple payback.

Tax Credit Notes:

• A tax 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 $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. However the tax credits quoted above are available to the vast majority of customers that install solar systems.