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Incentives
& Savings
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A strong incentive to consider solar water heating is provided under the federal Renewable Energy Deployment Initiative (REDI), which is designed to help business and industry purchase certain types of solar heating systems. By using proven renewable energy technologies, a company can save money and reduce its environmental impact and dependence on non-renewable fuels. REDI for business is a partnership between business and Natural Resources Canada (NRCan), which administers the incentive program. Eligible business and corporations are eligible for a contribution of 25% of the purchase and installation costs of a qualifying system, to a maximum of $50,000. The REDI incentive is provided in non-residential applications only (ie: not for homeowners) for both solar thermal water heating and solar air heating systems. The proposed system must use solar energy to augment (not replace) existing conventional heating systems. A qualifying system has to meet technical criteria defined under the incentive program , and it is not to produce thermal energy used directly in an industrial process (ie: the system can not qualify for CCA Class 43.1). This incentive provides substantial savings and shorter payback periods as a result. Visit REDI, or call 1.877.722.6600 for more information. |
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The
total cost for equipment and installation was $40,000
and delivers 210 GJ (58,380 kWh) of energy per year, representing an
annual savings of $5,000. Annual
maintenance costs $150 and the system should
last for 20 years before it needs a major overhaul.
In addition to the cost savings, solar water heating in the commercial
sector provides environmental benefits, including an annual reduction
in carbon emissions of 300 kg per sq.m of solar collector, based on
displacement of coal-based heating. |
©2004 Nexus Solar Corporation.
To
provide an example of cost, 24 solar collectors (72
sq.m) were installed on the roof of the Royal Ontario Museum in 1987,
and supply hot water to storage tanks nine stories below.