Camden Riverhouse Hotel Saves Money by Going Solar
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David Dickey, owner of the Camden Riverhouse, knows a good investment when he sees one. When he saw ReVision Energy’s financial analysis and projected returns on a solar hot water system, he decided to have us design and install a system that will produce roughly 60% of the hotel’s domestic hot water.
The recently installed system takes advantage of a 26% federal tax credit, accelerated depreciation, $1,000 state rebate and low interest financing from Efficiency Maine.
The end result is a solar investment that Dickey anticipates will be cash flow positive based on annual oil savings of roughly 750 gallons. As a nice bonus, the system will also reduce the hotel’s ‘carbon footprint,’ eliminating roughly 21,000 lbs. of CO2 emissions per year.
The system consists of eight Chromagen flat plate solar hot water collectors that heat two Stiebel Eltron super-insulated solar storage tanks. The tanks have 3″ of rigid foam insulation, reducing overnight heat losses to less than .5 degree F per hour. This means that there will be plenty of piping hot water available for the tourists’ morning showers!