I looked into making a rain barrel a few years ago when it was all the rage, and the math just didn't add up, and the payback period was 20-30+ years. It's still all the rage, so I ran the calculations again, and it still doesn't make sense.
I pay about $8.60 per 1 unit of water, which is 100 cubic feet, which is 748 gallons. Approximately 1.1 cents per gallon. A typical rain barrel holds 55 gallons, or about 60 cents worth of water. Even if I can snag a barrel for free, the cost of the accessories to hook it up to my gutter system will take my lifetime to pay back at only 60 cents saved per barrel.
I don't water my lawn at all, but I do water my vegetable/fruit garden and based on my bills I am using about 3,000 gallons/month so far this year, or about $30-35/mo in water. A 55 gallon rain barrel will not even put a noticeable dent in that, especially considering I will not be using it during rainy days, and only using it during non rainy days. I think a drip irrigation system will cut my water usage in half by using it much more efficiently, but one barrel only gives me a couple days worth of water during hot/dry parts of the summer.
The footprint of my house is 24'x24', which should give me about 359 gallons per inch of rain. Nearly all of that will go to waste with a small barrel. If I get some much larger IBC totes (275 gallons) I can actually catch most of the rain water. My area typically averages a little over 3 inches per month from April-September. That gives me about 1,100 gallons of water each month coming off my roof, on average. 2 IBC totes would give me 550 gallons of capacity, which should be enough to catch nearly all the rain, and water my garden. I may still have to supplement with hose water, but I should be able to catch and utilize most of the rain during the growing the season.
The cost of food grade IBC totes around me seems to be around $100/ea, plus I would have to go pick them up with a truck. I would then have to buy PVC to hook everything up to my gutter system. I'm thinking i'll need another $100 worth of stuff to get it all hooked up, putting me around $300 for the entire set up (not including the actual drip irrigation, which I'm probably going to set up regardless of the rain barrel situation so I'm not including that). All to catch and use the approximately $70-75/yr worth of rain falling on my roof.
Based on these numbers I'm looking at between 4 and 5 years pay back for setting up a 2 tote 550 gallon system. Of course this doesn't include any maintenance or anything, and I'm assuming this system will be like every other project I've done and not be completely cost (and headache) free during that time period. Plus I will permanently lose a footprint of about 4'x8' in my yard to store these containers year round.
One part of me hates seeing all that free rain water go down the storm drain while I am paying to run my hose. Another more practical part of me thinks I will be better off financially if I simply focus all that energy I would otherwise spend on setting this system up by just doing something else to save/make money.
Does anyone here have or use a rain barrel system? Was it a financial decision, or just a green decision (even if it doesn't save you money)?
Is it worth it to set it up with that payback period? Are there any hidden or recurring costs which I have neglected to include above? Is there anything else wrong with my math?