California recently approved the decision of a state-wide solar heating program consisting of almost $360 million financial incentives and market development funding by 2018. This initiative will soon be followed by rest of the country that lagged behind the world in installing solar thermal systems.
Global statistics show that the solar thermal industry is taking large steps in fulfilling heating and cooling demand in the world. Most of the countries around the world have adopted incentive programs for both solar water heating and space heating. Whereas in some countries, solar thermal systems have been widely utilized for so many years even without incentives.
The most important decision criteria for a household to install a solar thermal system is basically the payback times of their investment. The main driving factors of the investment payback time are the total cost of the systems and the cost of alternatives heating systems. (more…)