Refinancing? Go Solar.

The time to invest in a solar photovoltaic (PV) system for your home has never been better. Mortgage interest rates are historically low. If you are thinking about refinancing, consider adding the cost of a solar PV system into your new mortgage. Use this calculator to estimate your new monthly payment with solar included. In many cases, your new payment will still be less than what you are paying now, even with a solar system included.

After you submit your information in the fields below, a chart will appear with an estimated breakdown of your new monthly payment for a range of PV system sizes.

Enter Your Mortgage Information

Mortgage Amount:	$
Years:	Years
Existing Rate:	%
Refinanced Rate:	%
Loan Closing Costs:	$

Now Tell Us A Little About Your New Solar System

Solar Install Cost / watt:	$
Rebate Level / watt:	$
Is there a cap on your rebate?	$
Current Rate of Electricity:	$
How would you rate your southern exposure?

The remaining principle owed on your mortgage. Your current mortgage finance period (typically 30 years). Your current mortgage interest rate. The interest rate at which you are planning to refinance your mortgage. If you receive your electricity from Xcel Energy your rebate amount is $3.50 / watt (the default amount). If you receive your electricity from Black Hills Energy, you should change this to $4.50.

If you do not receive electricity from one of those two utilities, check the Database of State Incentives for Renewables and Efficiency and the GEO's Solar Rebate Program to see if a rebate is available in your area. You can get this information from your utility bill, or you can use the default amount of $.08 which is the average cost of electricity per kWh in Colorado. You can get this information from a solar installer, or you can use the default amount of $8 / watt which is the average total cost of installing a solar electric system including labor and materials and before any rebates. Some rebates only go up to a certain amount, which means they are limited with a cap. If your local solar rebate program includes a cap, you can put this amount in here for more accurate results. You can also leave this field blank if no cap applies or if you don't know what the cap is. Loan closing costs are typically between $1,000 and $3,000 and depend on the size and value of the home. These costs are spread out over the life of the loan and affect the monthly payment by a relatively small amount. You can plug your closing costs into this field if you know what they are, or leave it blank. What is the quality of the southern exposure where you will put the panels?

Excellent - no shading
Very Good - some shading
Average - pretty shaded

You can pick your choice from the drop down list.

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