The following calculations show our OPVPower3600 rooftop solar system. The system contains 18 solar panels that cover approximately 315 square feet of south facing rooftop. The system outputs 3.6 kW (kilo watts) of power and reduces carbon emissions by over 4,474 kg per year.
There are 3 purchase options:
- Purchase the system outright for $16,746 plus taxes. The system will make $65,391 +/- over the next 20 years.
- Finance the system with $2,665 down payment. The system income will pay off the balance of the loan in 5 years and make $45,807 +/- over the next 20 years.
- Finance the system with nothing down. You will have to supplement the loan payments for the first 5 years with $980 per year. The system will earn $42,630 +/- over the next 20 years.
This chart shows Option 3. We suggest that you open a separate bank account and have your system revenue deposited into the account and your loan payment taken out of the same account. During the first 5 years, the Net Income shows a shortage of $980 each year. The bank balance shows 0 and assumes that you deposit the $980 to cover the shortage. Starting in year 6, the loan is paid off and the account balance increases each year. These funds are available to you at anytime.
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Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
Year 6 |
Year 7 |
Year 8 |
Year 9 |
Year 10 |
|
|
Income |
3,591 |
3,555 |
3,520 |
3,484 |
3,450 |
3,415 |
3,381 |
3,347 |
3,314 |
3,281 |
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|
Loan Payment |
4,429 |
4,429 |
4,429 |
4,429 |
4,429 |
530 |
0 |
0 |
0 |
0 |
|
|
Net Income |
838 |
874 |
909 |
945 |
979 |
2,799 |
3,381 |
3,347 |
3,314 |
3,281 |
|
|
Bank Balance |
0 |
0 |
0 |
0 |
0 |
2,799 |
6,180 |
9,527 |
12,841 |
16,121 |
|
|
Financing: 5 years @ 6% (TD Canada Trust variable rate April 2008) |
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Year 11 |
Year 12 |
Year 13 |
Year 14 |
Year 15 |
Year 16 |
Year 17 |
Year 18 |
Year 19 |
Year 20 |
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|
Income |
3,248 |
3,215 |
3,183 |
3,151 |
3,120 |
3,089 |
3,058 |
3,027 |
2,997 |
2,967 |
|
|
Loan Payment |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
|
Net Income |
3,248 |
3,215 |
3,183 |
3,151 |
3,120 |
3,089 |
3,058 |
3,027 |
2,997 |
2,967 |
|
|
Bank Balance |
19,369 |
22,584 |
25,767 |
28,918 |
32,038 |
35,127 |
38,184 |
41,211 |
44,208 |
47,175 |
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Additional costs not included: ESA inspection, LDC hookup, electrician for system wiring. |
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Although these calculations end at 20 years, your solar system can continue producing power for many years afterward (+25 years) that you can continue to sell to the OPA.
Prices and factors are subject to change without notice. These factors are provided to help you estimate income and costs and do not guarantee that your system will generate these same results.
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