Given the low cost of PV, I am seriously looking at PV based water heating. I have looked at the other European refrigerant based systems like the SunPump, and my installer friends over there put it on par in terms of efficiency, cost and overall installation issues with glycol based thermal. This is not to say that they do not have their place but for the complexity of ANY fluid based system compared to PV, it is tough to recommend.
It used to be that there was few technologies to accomplish water heating. Not any more.
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