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  • NC Solar Calculator

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    leafjumper
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    The document summarizes the costs and savings of installing a solar panel system. It estimates that the system would cost $46,802 upfront but qualify for $25,093 in rebates and tax credits, bringing the net cost to $20,709. Financing the remaining amount at 6% interest over 20 years would result in a monthly payment of $148.37 but monthly savings of $91.72 from lower electricity bills. The system would pay for itself in 9 years without financing.

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    The document summarizes the costs and savings of installing a solar panel system. It estimates that the system would cost $46,802 upfront but qualify for $25,093 in rebates and tax credits, bringing the net cost to $20,709. Financing the remaining amount at 6% interest over 20 years would result in a monthly payment of $148.37 but monthly savings of $91.72 from lower electricity bills. The system would pay for itself in 9 years without financing.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    141 views10 pages

    NC Solar Calculator

    Uploaded by

    leafjumper
    The document summarizes the costs and savings of installing a solar panel system. It estimates that the system would cost $46,802 upfront but qualify for $25,093 in rebates and tax credits, bringing the net cost to $20,709. Financing the remaining amount at 6% interest over 20 years would result in a monthly payment of $148.37 but monthly savings of $91.72 from lower electricity bills. The system would pay for itself in 9 years without financing.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 10

    Your current average monthly power bill $67.

    00
    Your current estimated monthly kwh usage is 779

    System Specifications
    System size required to eliminate power bill 4.73
    Cost per installed watt (feel free to change this) $10.00
    Usable hours of sunlight/day 5.4
    Number of Solar Panels Required 23
    Approx. roof sqft. required 310
    watts per solar panel 210

    Due up front
    Gross Cost $47,302
    TVA Production Incentive (Grid Tie) -$500.00
    Out of pocket expense $46,802

    Rebates and Incentives


    N. Carolina Renewable Energy Tax Credit (35% cap @ $10,500) -$10,500
    Federal Tax Credit (30% no cap) -$14,191
    TVA Production Incentive @ .15/kwh -$1,402
    Net Cost after 1 year $20,709

    Financing Example
    Your monthly TVA credits paid to you for at least 10 years $116.86
    Your average monthly power bill savings over the first 20 years* $123.23
    If financed at 6% for 20 years, your estimated monthly payment -$148.37
    Immediate net monthly savings $91.72
    *Assumes 6% annual electricity rate increase

    Immediate Tax Exempt Property Value Increase $44,127


    40000

    Years to Break Even w/o Financing:


    35000
    30000
    25000
    20000
    Dollars

    15000
    10000
    5000
    0
    -5000
    -10000
    -15000
    -20000
    Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu
    mn mn mn mn mn mn mn I mn J mn mn mn mn mn mn mn mn mn mn mn mn
    C D E F G H K L M N O P Q R S T U V

    Year
    0
    -5000
    -10000
    -15000
    -20000
    Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu Colu
    mn mn mn mn mn mn mn I mn J mn mn mn mn mn mn mn mn mn mn mn mn
    C D E F G H K L M N O P Q R S T U V

    Year

    Total monthly savings 183.86


    Monthly production incentive credit 116.86
    utility price/kwh 8.60
    monthly power bill savings $67
    annual savings 2206.33
    total savings 2206.33
    Year 2009
    1
    Years to Break Even -$18,503.00
    Financing 20709.32
    -$1,805.53

    -$148.37

    days/month 30.50
    watt translator 779,069.77
    days/sunlight hours dividers 4,730.24
    electric rate
    <-----enter 0.086

    kW

    sqft.

    ($16,556)
    187.88 192.14 196.66 201.45 206.52 211.9

    9.12 9.66 10.24 10.86 11.51 12.20


    $71 $75 $80 $85 $90 $95
    2254.57 2305.7 2359.9 2417.36 2478.26 2542.81
    4460.89 6766.59 9126.49 11543.85 14022.11 16564.92
    2010 2011 2012 2013 2014 2015
    2 3 4 5 6 7
    -$16,248.43 -$13,942.73 -$11,582.83 -$9,165.47 -$6,687.21 -$4,144.40
    $18,903.79 $17,098.26 $15,292.72 $13,487.19 $11,681.66 $9,876.12
    -$1,805.53 -$1,805.53 -$1,805.53 -$1,805.53 -$1,805.53 -$1,805.53
    217.6 223.65 230.06 236.85 244.05 251.68

    12.93 13.71 14.53 15.40 16.33 17.30


    $101 $107 $113 $120 $127 $135
    2611.24 2683.78 2760.67 2842.17 2928.56 3020.13
    19176.17 21859.95 24620.61 27462.78 30391.34 33411.47
    2016 2017 2018 2019 2020 2021
    8 9 10 11 12 13
    -$1,533.15 $1,150.63 $3,911.29 $6,753.46 $9,682.02 $12,702.15
    $8,070.59 $6,265.06 $4,459.52 $2,653.99 $848.46 -$957.07
    -$1,805.53 -$1,805.53 -$1,805.53 -$1,805.53 -$1,805.53 -$1,805.53
    259.77 268.34 277.43 287.06 297.28

    18.34 19.44 20.61 21.85 23.16


    $143 $151 $161 $170 $180
    3117.2 3220.09 3329.16 3444.77 3567.31
    36528.67 39748.76 43077.92 46522.69 50090.01
    2022 2023 2024 2025 2026
    14 15 16 17 18
    $15,819.35 $19,039.44 $22,368.60 $25,813.37 $29,380.68
    -$2,762.61 -$4,568.14 -$6,373.67 -$8,179.21 -$9,984.74
    -$1,805.53 -$1,805.53 -$1,805.53 -$1,805.53 -$1,805.53
    308.1 319.58

    24.55 26.02
    $191 $203
    3697.21 3834.91
    53787.22 57622.13
    2027 2028
    19 20
    $33,077.90 $36,912.80
    -$11,790.27 -$13,595.81
    -$1,805.53 -$1,805.53

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