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Solar panels and heating water

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Should you install a solar water heater? The average home has a 200 liter hot-water tank, which is effectively drained and replenished three times per day. Assume that the entering tap water is 19 degrees Centigrade and is heated to 53 degrees Centigrade. Given an average energy from sunlight of 1.53 kJ/cm2 per day, how large would the collection area (in m2) of a solar water heater need to be if its efficiency is 30%? Assume that the price of a solar collector is $375/m2. How much would it cost to install this hot water system?

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A step-by step solution that shows how much surface area of solar panel is needed to convert energy supplied by the sun to energy needed to heat water.

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