Solar & battery
Solar Loan Payment Calculator
Monthly payment on a solar loan, and whether it lands below the bill it replaces.
Result
Low-rate solar loans usually carry a dealer fee added to the amount financed, often between 10% and 25% of the system price, which is how the advertised rate is funded. Compare the total financed amount rather than the rate. Many also reprice if an expected tax credit is not applied to the balance by a set date.
Get a Free Business AuditQuestions
About this calculator
Why is the cash price lower than the financed price?
Because the lender charges the installer a dealer fee, which is built into the financed price. A 0.99% loan on a system priced 20% higher is not cheap money.
What happens if I do not put the tax credit into the loan?
Many solar loans are structured with a balloon assumption: if you do not pay down the credit amount by month 16 or 18, the payment resets substantially higher. Read that clause before signing.
The formula
standard amortisation: payment = P x i / (1 - (1 + i)^-n)
Put this calculator on your site
Free to embed. Paste this where you want it to appear. It stays up to date automatically because it loads from BDEVY.
Please keep the attribution line. It is the only thing we ask in return.
Keep going
Related calculators
Solar Loan Calculator
What a solar loan costs over its term, and what it returns against avoided electricity..
Open calculatorSolar Financing Calculator
Whether financing a solar system makes sense, comparing the payment against the bill it replaces..
Open calculatorSolar Lease vs Buy Calculator
Compare buying solar outright, financing it, and taking a lease or power purchase agreement..
Open calculatorEstimating is the easy part
The jobs you never hear about cost more than the ones you mis-measure. BDEVY builds the marketing, systems and automation that bring them in.