As part of their goal of reducing energy use in the SouthCoast, The SouthCoast Energy Challenge is proud to announce a new partnership with New England Solar Hot Water (NESHW).
The Energy Challenge now has both solar photovoltaic (PV) and solar domestic hot water options for homeowners, which expands their suite of renewable options for SouthCoast residents. In addition, more than double the number of homes in the region have solar hot water potential, versus solar PV potential.
The partnership also comes at a good time because Massachusetts Clean Energy Center rebates for solar hot water just doubled. Most homes spend 20-30% of their energy bill on their domestic hot water. Solar hot water systems offer a return on investment of at least 15% if the home’s hot water is heated by gas and as high as 40% if the home’s hot water is heated by electricity. These savings will help the Energy Challenge reach their goal of reducing energy use in the SouthCoast by 15%.
“Solar hot water systems are simple and produce great energy savings, but the word is not out,” said NESHW President Bruce Dike. “Our new partnership with SouthCoast Energy Challenge is exciting for us as they have the ability to reach thousands of motivated homeowners who can benefit from solar hot water.”
The Massachusetts Clean Energy Center (MassCEC) just announced a large increase in their solar hot water rebate. This rebate, along with the 30% Federal and 15% state tax credits make Massachusetts the best state in the country for investing in solar hot water. A New England Solar Hot Water system costs $9,630 but this cost is reduced to $2,557 after these incentives are subtracted. Moderate income homeowners or those with homes of moderate value can benefit from additional rebates which brings the “out of pocket” cost down to less than $2,000. Most homeowners then use the zero percent HEAT loan to finance the project.
The Energy Challenge chose to partner with New England Solar Hot Water because of their long history of doing business in the region. They were founded by an engineer in Duxbury who saw a need for the technology to be expanded in New England. New England Solar Hot Water is a family owned business that specializes in only solar hot water systems that are low maintenance, long lived, and use a standardized design specifically for the New England climate. Over 250 have been installed in the region.