Oncor Increases Funding for Its Solar Water Heating Program, Expands Customer Eligibility

DALLAS--(BUSINESS WIRE)--This year, Oncor has nearly doubled incentives for residential systems and expanded customer eligibility to include businesses, organizations and public facilities for its 2010 Solar Water Heating Program.   

“Oncor’s had an overwhelming success with its solar programs,” said Michael Stockard, Director of Oncor Energy Efficiency Programs. “Due to the huge amount of interest from our customers these programs have been expanded to have a larger customer reach.”

Oncor’s Solar Water Heating (SWH) Program offers cash incentives for the purchase and installation of qualifying solar water heating systems. Oncor expects its customers to install about 1,000 new solar systems over the next three years through this $1.6 million incentive program. This program is funded out of Oncor’s $100 million commitment funds. Only properties served by Oncor are eligible.

“Water heating consumes the most energy in a home after space heating and cooling. Water heating also consumes a significant amount of energy in commercial buildings with significant hot water usage, such as hotels and dormitories,” said Stockard. “By installing solar water heaters, consumers can use solar energy to reduce their electricity consumption. In Texas, harnessing the sun to do simple tasks like heating water just makes sense.”

A SWH system uses the sun’s energy to heat water for dishwashing, laundry, showers, food services, agricultural applications and industrial processes. While a SWH system cannot replace an electric water heater, it will drastically reduce the electricity consumed for hot water needs; typically by 40 to 85 percent. The sun’s energy is free and can cut a building’s electricity consumption in an environmentally friendly way.

New, professionally installed residential SWH systems typically cost between $4,000 and $8,000, based on the type of system installed. Oncor’s incentive reduces an installed system’s costs by roughly $1,400 to $2,700, depending on the system’s predicted energy performance.

Prices for commercial SWH systems vary. Oncor’s incentive can reduce a commercial system’s costs by up to $1,500 for smaller systems and up to $6,500 for larger systems, depending on the system’s predicted performance.

A SWH system becomes an even more affordable investment when you combine Oncor’s incentive with the federal investment tax credit, which may be available to you.

“Consumers, developers and building owners are looking increasingly toward solar energy as an innovative and sensible solution for their properties,” said Stockard. “Oncor continues to encourage the development of the solar industry and to help consumers benefit from renewable energy through the Solar Water Heating Program.”

For more information on the Solar Water Heating Program and other Oncor energy efficiency programs, visit www.takealoadofftexas.com.