I use a clothesline during the summer, so I don't use any natural gas for my clothes drying. My natural gas bill is around 25 month (I took a look at last month’s bill. I was gone for a week (Grand Hotel, Mackinac Island, but that is another story).
If I had 6 people using the system instead of 2, then my gas bill would be much higher, especially if any of them were teenagers, who dream of the endless shower (brings back memories of my youth). Also, kids produce lots of dirty clothes which mean a lot more natural gas for hot water for all their clothes that need washing. But, for the sake of this discussion, let us stick with 25 a month.
System was 3500 USD after all rebates, credits, etc. It would take 11.6 years to break even. Hmmmm. Now, assume I had kids (I have some, but all are out of the house). double my natural gas bill and voila, 5.3 years.
My estimate is based upon one big assumption. That the price of natural gas will not increase. And that my oversized system will produce all my hot water during winter. I think gas prices will increase. (DUH ). Only time will tell if winter works. I have faith. But I will have to wait until this winter.
So, anywhere from 6-12 years?????? Faster pay back if gas prices increase.
Then, assume it will last 20 years. I think it would last longer, but 20 years seems okay and conservative. 8-14 years of free hot water!!!!!!!!
I did not include repairs. I have no idea. After all, this is just a rough estimate.
Bob
PS Forgot to mention, no property tax for system. This is the law. My property taxes cannot be increased for a renewable energy system. And, when and if I sell this house, I expect I will get more $$$$ for my home. Why? becasue natural gas will get more expensive and everybody loves "free" hot water. Nice selling point for us folks in the "country". Can't say this about my gas water heater, can you?
