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PV electric cells only convert at 15% efficiency, and are much more expensive. The final cost per MW is about $10000 for PV and about $2000 for solar water heating. The payback(without subsidies) for water heating is around 6-7 years if your electricity rate is 10 cents per KW/H. We have more information here at http://www.sunbelt-solar.com a local solar installer in Austin, TX.

Solar water heating converts 65% of the energy that strikes the panel into useful energy. PV electric cells only convert at 15% efficiency, and are much more expensive. The final cost per MW is about $10000 for PV and about $2000 for solar water heating. The payback(without subsidies) for water heating is around 6-7 years if your electricity rate is 10 cents per KW/H. We have more information here at http://www.sunbelt-solar.com a local solar installer in Austin, TX.