Using multicolour photometry we have confirmed the binary nature of the new W-type W UMa eclipsing binary VSX J053024.8+842243 and established its primary eclipse ephemeris to be HJD = 2455924.38150(26) + 0.4322929(1) * E. Using the light curve modelling code PHOEBE and published data on the evolution of W-type contact binaries we found the primary and secondary components to have masses 0.50 Msun and 1.44 Msun, radii 0.87 Rsun and 1.42 Rsun, luminosities 0.98 Lsun and 1.91 Lsun, temperatures 6145 K and 5702 K and binary orbit inclination 59.4{deg}. We found the distance to the binary to be 511 parsec, its E(B-V) colour excess 0.04 and its intrinsic (B-V) colour index 0.62. A low resolution spectrum corrected for interstellar reddening confirmed its spectral type as G2V.
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