It works. I have three of these installed to monitor temps in the solar hot water system. They are wired to an ohm meter. The drawback is that you have to convert from ohms to degrees, by chart. But the advantage is that these sensors can tolerate and report higher temps than the sensors which come with garden-variety indoor-outdoor thermometers. Unfortunately you don't get min/max temps, just current temps, with this setup. For cooler parts of the system, I installed the kind of indoor-outdoor thermometers (with hard wired probe) that you can get at your local Fred Meyer, whch record min/max.
The hot water storage tank that I used for the solar hot water system has a threaded port, which I could have used to insert a probe-type 10k sensor; that would have been better than using this one, in that location. But these strap on types are ideal for the other two locations: coming out of the collector, and going back from pump to collector.
If you don't mind using a third wire and running 5 volts to the sensors, consider using LM-34 type probes, which give you back a reading on your meter which directly shows degrees Farenheit -- that saves the step of converting each ohm reading by chart to degrees F.

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