The basic part of solar water heaters is the collector and the main functional part of the collector is the absorber layer. In this work, a commercial locally available black painting (PACEN code 10382 colour 890), used for swimming pools solar heating, was modified by adding nano-graphite dispersion. The effect of nano-graphite particles percentage on the spectral absorbance of the material was examined on samples containing two values of 1.5 and 2.5% nano-graphite particles by weight. Fourier transform spectroscopy (FTIR) analysis was also used to identify the functional groups in the developed material. A simple experimental setup was designed to evaluate the performance of the developed nanodispersed selective coating polymeric based material, by measuring the increase in temperature of circulating water. It was shown that adding 1.5–2.5% nano-graphite particles to a polymer based black coating causes an increase in the optical absorptance, and an increase in the circulating water temperature.