Office (540) 325-0750
Fax (540) 436-8165



PAYBACKS AND INCENTIVES

 SUNPEAK USA, Inc

  1. Payback Periods for the Prepackaged Systems
    - 65 Gallon system
    - 80 gallon sysems
    - 120 gallon system

  2. Electricity Prices and Costs Savings Per Year

  3. Federal Tax Incentives

  4. State Tax Incentives

1. Payback Period for the SUNPEAK USA Inc. Prepackaged Systems.

The following are examples of Payback Period Calculations based on San Francisco California using the average price of electricity in California obtained from USA Today: *These cost figures are based off of the most current data and will change from time to time.

The payback calculations are based off the Green Technology computer model when the unit was tested in Europe.  You can access this calculation tool at www.gtc-solar.com/tools.html and fill in the Absorber Area, Insolation level in your area and the electrical cost per kwh. This result will give you the approximate savings per year you will receive from your system.

Using the calculations from the calculation tool found at www.gtc-solar.com/tools.html and filling in the data (found in the example below) for San Francisco California the calculated savings per year was $612 on the 65 gallon system, $750 on the 80 gallon system and $1224 savings per year on the 120 gallon system.

 

SUNPEAK USA INC. Solar Hot Water Heater: www.gtc-solar.com/tools.html 65 Gallon Pre-Packaged System  $2,650.00
  Absorber Area  3.8 m2 Installation/balance $1,320.00
65
Gallon
System
Insolation level 4.89 @ San Francisco Total Installed Cost $3,970.00
Electrical cost   .14 cents kwh *see below
Federal/State Incentives: California ($1,500.00 rebate) ($1,500.00)
Federal Res. (30% tax rebate) ($1,191.00)
Cost of System after Incentives   $1,279.00
    Estimated Annual Savings: $612.00
    Electrical Cost Increase Rate: Not Figured
  Payback Period Calculation Chart: The system pays for itself in 3 years and 1 month, and then it pays you $612.00 or more each year for the lifetime of the unit.
  Year Annual Savings Remaining System Cost
  Year 1 $612.00 $1,279.00
  Year 2 $612.00 $667.00
  Year 3 $612.00 $55.00    
  Year 4 $612.00 $-557.00    



SUNPEAK USA INC. Solar Hot Water Heater: www.gtc-solar.com/tools.html 80 Gallon Pre-Packaged System  $2,990.00
  Absorber Area  4.66 m2 Installation/balance $1,320.00
80
Gallon
System
Insolation level 4.89 @ San Francisco Total Installed Cost $4,310.00
Electrical cost   .14 cents kwh *see below
Federal/State Incentives: California ($1,500.00 rebate) ($1,500.00)
Federal Res. (30% tax rebate) ($1,293.00)
Cost of System after Incentives   $1,517.00
    Estimated Annual Savings: $750.00
    Electrical Cost Increase Rate: Not Figured
  Payback Period Calculation Chart: The system pays for itself in 3 years and 1 month, and then it pays you $750.00 or more each year for the lifetime of the unit.
  Year Annual Savings Remaining System Cost
  Year 1 $750.00 $1,517.00
  Year 2 $750.00 $767.00
  Year 3 $750.00 $17.00    
  Year 4 $750.00 $-733.00    



 

SUNPEAK USA INC. Solar Hot Water Heater: www.gtc-solar.com/tools.html 120 Gallon Pre-Packaged System  $4,100.00
  Absorber Area  7.6 m2 Installation/balance $1,320.00
120
Gallon
System
Insolation level 4.89 @ San Francisco Total Installed Cost $5,420.00
Electrical cost   .14 cents kwh *see below
Federal/State Incentives: California ($1,500.00 rebate) ($1,500.00)
Federal Res. (30% tax rebate) ($1,626.00)
Cost of System after Incentives   $2,294.00
    Estimated Annual Savings: $1224.00
    Electrical Cost Increase Rate: Not Figured
  Payback Period Calculation Chart: The system pays for itself in 2 years and 10 month, and then it pays you $1,224.00 or more each year for the lifetime of the unit.
  Year Annual Savings Remaining System Cost
  Year 1 $1,224.00 $2,294.00
  Year 2 $1,224.00 $1,070.00
  Year 3 $1,224.00 $-154.00.00    

 



        $0 Electricity Costs for hot water heater     


2.  2009 Electricity Prices and Cost Savings Per Year:

State 2006 Price (in cents) 80 Gallon Tank with 30 tubes
  % Change,  2002 to 2006 Your Cost Savings Per Year

California 14.34 cents per kwh $849.00 per year
Los Angeles 5.4 insolation level +13.5%

Connecticut 16.79 cents per kwh $661.00 per year
Hartford 3.59 insolation level +53.2%

Maine 14.47 cents per kwh $606.00 per year
Portland 3.82 insolation level +13.5%

Massachusetts 17.01 cents per kwh $667.00 per year
Boston 3.58 insolation level +55.6%

New Jersey 12.87 cents per kwh $512.00 per year
Trenton 3.63 insolation level +24.0%

New York 16.69 cents per kwh $646.00 per year
New York 3.53 insolation level +23.2%
   

***Based off solar calculator Found at  www.gtc-solar.com//tools.html   area is 4.66 ins

*http://www.usatoday.com/money/industries/energy/2007-08-09-power-prices_N.htm

 


3. FEDERAL TAX REBATE 

A copy of the Federal Tax rebate form is located on this web site.  Click here. 

Go to http://www.energystar.gov  look under tax credits.

FEDERAL INCENTIVES for Homeowners:

Personal Tax Credit

Amount*

Maximum Incentive

Expiration Date

Solar Thermal **

30%

$2,000

12/31/2008

 

 

 

 

·         A 30% Federal tax credit, capped at $2,000 can be taken for solar thermal water heating systems.

** All solar thermal water heating systems must be tested and certified by the Solar Rating and Certification Corporation (SRCC) in order to qualify for incentives/rebates with at least half of the energy used to produce the hot water coming from the solar thermal system.

Residential Energy Credits for Tax Year 2006: IRS Form 5695 & Instructions  

Corporate Tax Credit

Amount*

Maximum Incentive

Expiration Date

Solar Thermal

30%

No Maximum

12/31/2008

 

 

 

 

* For eligible equipment installed before 12/31/2008, the corporate tax credit is set at 30% of total expenditures for solar technologies.

 

Solar Energy Systems Solar Water Heating rebate requirements:

  • At least half of the energy generated by the “qualifying property” must come from the sun. Homeowners may only claim spending on the solar water heating system property, not the entire water heating system of the household.
  • The credit is not available for expenses for swimming pools or hot tubs.
  • The water must be used in the dwelling.
  • The system must be certified by the Solar Rating and Certification Corporation (SRCC).

30% of cost, up to $2,000       Use IRS Form 5695

Farm and Small Business Owners:

·         The US Department of Agriculture (“USDA”) has grants of 25% towards the costs of PV and hot water systems for agricultural operations and rural businesses located in cities or towns with less than 50,000 people. Call your local extension agent to see if your farm or rural home business qualifies for this generous grant which can also be used with the 30% income tax credit and accelerated depreciation to cut your system cost by 60-70%.

·         http://www.rurdev.usda.gov/rbs/farmbill/index.html

Home Builders:

·         You are eligible for a $2,000 tax credit for a new energy efficient home that achieves 50% energy savings for heating and cooling over the 2004 International Energy Conservation Code (IECC) and supplements. At least 1/5 of the energy savings must come from building envelope improvements. This credit also applies to contractors of manufactured homes conforming to Federal Manufactured Home Construction and Safety Standards.

·         Eligible contractors need to fill out IRS Form 8908 PDF Exit ENERGY STARto get the tax credit. The IRS has provided the following guidance regarding the tax credits for constructing energy efficient new homes available under the Energy Policy Act of 2005:

 

·         There is also a $1,000 tax credit to the producer of a new manufactured home achieving 30% energy savings for heating and cooling over the 2004 IECC and supplements (at least 1/3 of the savings must come from building envelope improvements), or a manufactured home meeting the requirements established by EPA under the ENERGY STAR program.

  • IRS Notice 2006–27 ENERGY STAR provides guidance for the credit for building energy efficient homes other than manufactured homes.
  • IRS Notice 2006–28 ENERGY STAR provides guidance for the credit for building energy efficient manufactured homes.

  


4. STATE Incentives for Renewable Resources             

For a complete up to date list of all incentives offered please visit: http://www.dsireusa.org

 

If you have any questions you can call 540-325-0750 or e-mail sales@sunpeakusa.com.

 

© 2010 SUNPEAK USA Inc.



solar water tank