Scientists in India say they have analyzed the engineering and economics of a solar water-heating system and determined it is a good investment.
Vivek Khambalkar, Sharashchandra Gadge and Dhiraj Karale at the Deshmukh Agricultural University in Maharashtra, India, determined the 264,172-gallon (1,000 liter) solar water-heating system at a university hostel had a payback period of only two years.
The researchers evaluated the various costs and benefits involved in solar hot-water production.
"Solar energy is the only renewable energy source that has a wide range of uses with commercial viability," they said. "Solar energy provides water heating, air heating and electricity through various modes of applications. The use of solar energy for thermal purposes is the most cost-effective way of utilizing the resource."
The team estimated the solar water-heating system will effectively pay for itself five times over, given an estimated working life of about 20 years.
The research appears in the International Journal of Global Energy Issues.
Source - Solar daily
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