Solar Water Heater Systems Market
Solar water heaters come in a wide variety of designs, all including a collector and storage tank, and all using the sun’s thermal energy to heat water. The solar water heating systems market size was valued at USD 2.05 billion in 2016 and is predicted to surpass USD 3 billion by 2025. Demand for reliable cost-competitive, and eco-friendly water heating systems across Hospitality, Commercial, and Industrial establishments will drive the Solar Water Heating Systems industry growth. Solar Water Heating Systems are becoming increasingly popular in southern states like CA, thanks to sunny skies and very aggressive states and local incentives in addition to federal credits.
Solar Water Heating Systems is for all businesses
Virtually any business with a need for hot water can take advantage of solar water heating. The ability to reduce electricity consumption by 50% to 80% over alternate technologies, will make its adoption preferable. Many hotels install solar water heating systems to protect themselves against skyrocketing utility costs; dramatically reducing energy bills by as much as 80 % or more.
Hotels, Motels, and Resorts
Hotels and resorts can utilize thousands of gallons of hot water for their guests’ use, linens and towel washing, food service preparation, and recreational facilities. Installing Solar Water Heating Systems will protect against skyrocketing utility costs; dramatically reducing energy bills and promoting these businesses as sustainable.
Restaurants and Cafeterias
From boiling water to washing dishes and table clothes, restaurants and cafeterias can rely on free hot water from the sun to run through their dishwashers, on-site laundry machines, or tap water.
Laundromats, Linen Services
Commercial laundromats generally use two gallons of 180°F water per pound of clothes or linens washed translating to as many as 80 gallons of hot water per load. Industrial and commercial laundries use as much as 1,400 gallons of hot water per load.
Fitness Centers and Spas
Guests will appreciate your commitment to the environment for heating pools, Jacuzzis, and showers with solar hot water.
A ten-minute shower uses 25 gallons of water. A full bath can use up to 70 gallons of water.
Office Complexes & Industrial Facilities
Office Complexes and Industrial Facilities use hot water for different daily and operational processes.
Solar Water Heaters Benefits
Almost every business uses hot water, being for showers in hotels, kitchens- sinks and highvolume commercial dishwashers in restaurants, heavy-duty laundries, or industrial processes. With water heating being the single largest energy expense in many industries, a solar water heating system can displace much of the energy used for commercial water heating and helps achieve profitable and sustainable operations.
Solar Water Heaters Technologies
Solar water heaters are typically described according to the type of collector and the circulation system.
Currently, solar water heaters are using TWO primary technologies, namely:
- Photovoltaic (PV) – directly convert light to electricity which will be used to heat water stored in water storage tank; or
- Concentrating solar power (CSP) – Sun heat (thermal energy) is used to directly heat the water and then store in it a water storage tank
Solar Water Heaters Best Design
Water Heaters’ best design will allow the ability to expand, flexibility to migrate to newer technologies, and being installed in hidden locations where they are nether seen by customers nor affecting the brand image of the business.
Solar Water Heaters Incentives
Adding to the clear benefits and savings that come with installing Solar Water Heaters systems, generous federal, state, local & utility incentives and rebates made it a smarter decision to make. These credits and incentives can cut the actual cost of installing Solar Water Heaters systems down by at least 50% or more, resulting in a higher ROI ratio and shorter payback period.
A generous Dollar-for- Dollar 26% Federal Tax Credit through Investment Tax Credit Act (ITC), of the TOTAL cost of the Solar System Installation
A 21% Tax benefits resulting from Article 73 of Tax Code allowing 100% depreciation of the TOTAL cost of the System Installation in ONE fiscal year.
An 8% California MARCS tax benefit of the TOTAL cost of the Solar System installation.
Total Credits and Rebates is 55% of the Entire cost of the Solar System installation, Plus, various Utility and Local incentives.