Comparison Of Solar Water Heaters With Electrical Geysers
Cost of electricity RS. 5.00 per unit (kWh)
Total heat gain kcal/ day System capacity x Temp. difference
= 125 x 40 = 5000 kcal/day
= 5000 x 4.2 kJ/ day = 21,000 kJ/day
Total heat gain = 21000/ 3600 kWh/ day
Saving in electricity = 5.83 kWh / day
Saving in electricity cost = Units saved x cost / unit
= 5.83 x 5
Saving / day Rs. 29.15
Saving per year = 29.15 x 300
= Rs. 8745
Payback period = Total cost/ saving per year
= 25000/8745
Payback period = 2.85years
Payback period with subsidy 19000/8745 = 2.17 years

Actual payback period becomes much shorter if the periodic rise in the cost of oil/ electricity, maintenance and handling charges for geysers or boilers and depreciation allowance available are accounted for. With MNRE upfront subsidy under JNNSM, the cost of the system becomes Rs. 19000/- and payback period works out to 2.77 years and 2.17 years respectively.
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