Richard Weinberg has been studying alternative energy systems since the 1970s oil crisis. He now sells solar thermal systems through his startup Thermal Reserve LLC, which operates a booth at Douglas Lumber, Kitchens, and Home Center showroom in Smithfield. He recently took a few minutes to speak with the Providence Business News about when and how to incorporate a solar thermal system into a home.
PBN: What kind of products does Thermal Reserve offer?
WEINBERG: Thermal Reserve offers at the retail level a line of vacuum tube solar collectors, water tanks and control systems. We also will hold informational meetings for the rest of the year to familiarize interested customers on how the solar thermal system works and how it will fit their needs. It is our belief that an educated consumer who makes an informed decision will be satisfied with their installation.
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PBN: Can you walk us through when it makes sense to install a solar system?
WEINBERG: Installations fall into two categories, one is new construction and the other is retrofitting an existing building. For a new building, there are many reasons to select a solar thermal heating system, including comparable cost to a conventional system without the need for a fire-rated enclosure and a chimney. Once installed, fuel costs are gone and replaced with the operation of circulation pumps or fan and heat exchanger. Both are part of a conventional hydronic or hot air system.
Retrofitting an existing system makes sense as the payback is relatively quick. Energy savings begin on the first day, and for the life of the system energy, costs are gone and the buildings heating system is “off the grid.” A retrofit with a solar thermal system has many strong benefits, but it is recommended that a consumer balance the initial cost with the payback term and make an informed decision.
PBN: How expensive are solar systems?
WEINBERG: Solar systems vary greatly in price based on design capacity and whether it is only for hot water or for space heating as well. The price to install can range from $4,000 to $19,000 for a complete residential system that will handle the building’s heat and hot water requirements. Tax credits are available for both installation methods.
PBN: What tax credits can people take advantage of for solar systems?
WEINBERG: There are federal tax credits up to 30 percent of the installation costs. Rhode Island offers tax credits at 25 percent of the installed system, and they can both be taken for a combined tax credit of 55 percent. I am recommending that consumers check with their accountant for required documentation for taking the tax credits and how the tax credit applies to their personal situation. The tax credits are in place until 2016. For more information visit http://www.energy.ri.gov/programs/renewable.phpor www.energy.gov/taxbreaks.htm.
PBN: Do you see more companies like Thermal Reserve entering the Rhode Island market as people become more “green” conscious?
WEINBERG: I believe that new federal guidelines will encourage new companies to enter the solar thermal market to meet the demands for solar thermal systems. Competition is healthy, so that a consumer can shop prices and have that extra degree of security that they are getting the right system to meet their needs. I cannot emphasize enough that an informed consumer will be a satisfied customer. People want to save energy and money, and are seeking alternatives to conventional heating system and a gradual adoption of solar thermal. This will lead to a strong trust with the system, create demand, and serve as a catalyst for many more firms to enter this market.
I agree. Choosing green solar collector system will save many money. My home is using the solar collector. It has saved so many monry for me!