The recent stimulus bill expanded the tax credit for the purchase of a solar water heating system. Previously the federal tax was capped at $2,000. This limit was lifted and the credit is now 30% of the cost of the system.
It's estimated that 25-30 percent of a home's typical energy usage is heating water for showers, laundry and washing dishes. Depending on the energy source a home is using, a solar water heating system could pay for itself in three to five years. Solar Estimate is a website that helps calculate solar savings.
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