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As confirmed during the expert interviews, economic benefits are the main drivers for customers to buy a solar water heater system (Preville pers. comm. 05 May 2010, Charles 18 May 2010). The people do not want to pay the high electricity costs but they also hesitate to pay a high initial cost for a solar water heater. That is why, besides the implementation of financing schemes to spread the costs over longer periods, awareness about renewable energy investments and savings has to be created. Figure 24 illustrates a sample, based on a calculation of Sunpower (Jordan pers. comm. 26 March 2010). In Barbados, the average solar water heater size is 65 gal/ 246 Liter and would cost 1,900 USD, including VAT and installation. An equivalent electric water heater would cost 600 USD (Husbands pers. comm. 24 March 2010). Using an electric water system to heat water for 45°F/25°C would cost 1.83 USD per day and 667.70 USD per year with an electricity rate of 0.23 USD/kWh (as of September 2009, excluding VAT) and a system efficiency of 90%. With an electric water heater lifetime of 10 years, which is very optimistic, the consumer has to pay 1,267.70 USD in the first year and every following year the electricity costs of 667.70 USD. After 10 years, an additional 600 USD needs to be paid for the heater replacement. When using a solar water heater of 1,900 USD it saves the electricity bill right from the first year of operation through the following 15 years. Solar water heater can even last up to 20 years and longer. There might be about 20 days bad weather conditions, when an additional electrical heat up, basically by the included heating element, is required. Those 20 days would cost 36.59 USD electricity per year. Maintenance costs are about 150 USD every 7 years for cleaning and flushing (McClean pers. comm. 1 April 2010). This means the solar water heater is cost efficient already after one and a half years and achieves total cumulative savings compared to an electric water heater of 9,066.71 USD after 15 years. Giving tax incentives makes the calculation even more favorable for the customers. Nonetheless, the cases vary from country to country depending on electricity and system prices. For example, with an electricity price of 0.30 USD, close to the prices in St. Lucia or Grenada, the same system would have a break-even point already after 1.3 years (about 16 months) and cumulative savings of 11,947.88 USD. This however, displays a frequent hot water usage, which would reflect the hotel industry but not the low and some of the middle income families. Many people do not use hot water at all because the temperature of 80°F/26.7°C suits them and save the high electricity rates by taking a “cold” shower. Often they have black water tanks on the roof top and the water is also Solar Water Heater Framework 63PDF Image | CARIBBEAN RENEWABLE ENERGY DEVELOPMENT PROGRAMME
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