Hot Water for Free?

The thought of hot water for free, seems too good to pass up.  I decided to install a solar collector on my roof.  As the back of my house points due South, it is the perfect location.  For all new houses, it is a requirement that 60% of their hot water should come from solar.  While the thought of free electricity seems even better, the cost of installing a photovoltaic (PV) collector is astronomical.  Also the conversion efficiency is much lower, so you would probably never achieve a payback on your investment.

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