Terry Mclveen of East Waterboro
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In the first half of 2008, as the price of oil started to rise without any sign of relief, energy consumption became part of our everyday consciousness
From driving to work to heating our homes to the cost of food, Americans across the country realized just how vulnerable we were to fluctuating energy costs. Long-term energy solutions were pushed to the forefront as we all re-evaluated our relationship with energy consumption.
Now, even though the price of fossil fuels has dropped, there are still numerous important reasons to consider renewable energy systems, including lower utility bills, a reduced carbon footprint, energy independence and control, a first-hand understanding of energy, how it is produced, and ownership over that process.
ReVision Energy is pleased to assist our clients as they move towards renewable energy, and we appreciate the various reasons why people do so. We also appreciate the feedback we receive from clients after an installation and were happy to receive the below from Terry McIlveen of East Waterboro.
In an effort to move away from oil dependency when prices reached record highs, Terry decided to install a solar hot water space heating system at his home.
Many thanks to Terry for sharing his story with us!
“In May of 2008, heating oil hit an unsettling $4.30 a gallon. At that time it would cost over $1,400 to fill my 330 gallon tank; I had already put in 150 gallons which ran me over $700. Not wanting to continue to pay the oil companies these prices, I started to investigate options I had. I asked around and found out that solar hot water would be a viable solution for my needs. I knew of a system that ReVision Energy installed at a reputable restaurant, the Salt Water Grille.
I was looking for a solution that would not only meet my domestic hot water requirements but also tackle part of my heating load. My house is a well insulated 3300 square feet with radiant heat floors throughout.
When the Obama stimulus package was passed, there was a provision that uncapped the solar hot water tax credit, which before was $2,000. The federal tax credit became and still is 30 percent for the entire installation cost with no cap; this incentive was enough for us to tip the economic scales and move forward starting the upgrade in late April 2009.
Since the install (April – August), I have used a little over 30 gallons of oil. The solar array has provided most of my domestic hot water requirements and some heating (late April to early May). I am constantly amazed with the system. My expectations were to have lots of hot water during sunny days, but I often find during rainy and cloudy days (June) the collectors still register at 160-180 degrees.
As a bench mark I am using oil consumption from last year, May-October, which was 180 gallons. At this point I have used 30 gallons. If I use a conservative estimate of 1,200 gallons of oil savings annually, this covers my monthly loan payment, making this investment cash flow positive in year one. When oil prices increase again, my return on investment happens even quicker.”
Tour this home during the Green Buildings Open House held October 3rd from 10am-4pm.