Post on 02-May-2018
EmpowerLoan Proposal for Valerie Castillo
Installation Company Elevation Solar
Energy Consultant Jorge Hernandez
Email jhernandez@elevationsolar.com
Phone
Website http://elevationsolar.com/
Contract Date
Expiration Date
Homeowner Valerie Castillo
Homeowner Address 12003 Hycroft
City Live Oak
State TX
Zip Code 78233
Homeowner Phone
Homeowner Email vcastillo813@gmail.com
Total System Price $30,640
Upfront Rebate (11,685)Down Payment (if any ) –
Loan Amount $18,955
State Tax Incentive ($) –
Other Rebate / Incentive ($) –
Federal Tax Incentive ($) (5,687)
Estimated REC Value ($) –
Net System Cost $13,269
15-Year System Monitoring Free
15-Year Product Warranty Free
15-Year Performance Guarantee Free
Pre-Incentive Monthly Payment $102.51
Post-Incentive Monthly Payment $102.33
Interest Rate 6.49%* Estimated savings and average electricity cost of solar power assuming monthly savings from solar system are not used to pay down loan; total estimated savings
with reinvestment equal to $29,397; cost of solar net of any applicable RECs
Simple. Solar. Ownership.
9565362279
May 18, 2015
June 1, 2015
2108453948
Total Estimated Lifetime Savings: $26,608
$0.19
$0.09
Utility Power Solar Power
Contact Information
Solar Provider Information
Client Information
Cost Savings and Purchase Price
EmpowerLoan Solar Savings -- 25 Years* 25-Year Avg. Price per kWh*
EmpowerLoan Payment Details
Purchase Price
$108,604
$57,435
$24,562
$26,608
Old Bill New Bill Cost of Solar Total Savings
proposal is a preliminary estimate and not an approval for a finance product.obligation. No party, including the solar installer, their service providers and Dividend Solar, provides any guaranties, warranties or representations regarding the production, utility rate increases or any other data in this sales proposal. ThisThe interest rate provided in this sales proposal is subject to credit approval by Dividend Solar, the financing provider for your loan. The data provided in this sales proposal is a preliminary estimate and does not represent a binding agreement or
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Today 25 Years
Now Is the Time to Go SolarAs the benefits of going solar have become clear, there has been a decade-long surge in residential solar in the U.S.
• Residential solar has grown 75% annually since 2008
• More solar has been installed in the U.S. over the last 24 months than in the previous 30 years combined (SEIA)
Save Money — Solar Makes Economic CentsHomeowners' electric costs have increased 28 of the past 30 years, rising almost 40% in the last decade alone according to EIA.
In contrast, if you go solar with Elevation Solar, you can likely save money on your electric bill immediately.
Invest In Your Home
Solar Is Green In More Ways Than One
20,073 gallons
of gasoline
consumed
25 homes'
electricity use for
one year
64 tons of
waste sent to
the landfill
4,574 trees
grown for 10
years
Note: Calculations based on the EPA's greenhouse gas calculator.
$108,604
Solar energy systems are an attractive asset when selling your home, increasing the value of your home while decreasing its time
on the market. A 2013 study from the Lawrence Berkeley National Laboratory indicates that a medium-sized residential solar
system can add over $20,000 to the value of a home.
The benefits of solar energy are clear and create a significant positive impact on the world around us. Your system can reduce your
carbon footprint significantly, with an impact equivalent to:
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The Cost of Doing Nothing
Why Go Solar?
Annual Solar PV Installations (MW) Total 25-Year Electricity Cost Home Value Appreciation
proposal is a preliminary estimate and not an approval for a finance product.obligation. No party, including the solar installer, their service providers and Dividend Solar, provides any guaranties, warranties or representations regarding the production, utility rate increases or any other data in this sales proposal. ThisThe interest rate provided in this sales proposal is subject to credit approval by Dividend Solar, the financing provider for your loan. The data provided in this sales proposal is a preliminary estimate and does not represent a binding agreement or
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We use the highest-quality materials in constructing your system, with product warranties and a system performance guarantee for energy production.
Component Quantity Type
Module 32
Inverter 1
Monitor 1
System Size (kW) 8.32
Annual Energy Production (kWh)
Utility Company CPS Energy (City Public Service Board of San Antonio)
Your system generates additional savings by lowering your utility payments, with meaningful impact over time (especially once your loan is paid off).
And, if you reinvest your month-to-month savings, you can pay your loan off faster and earn greater savings over the life of your system.
Hanwha Q-Cells, Q.PRO BFR - G3 260 Utility Power Solar Power
SMA America, SB77000US (240V) 53% 47%
Locus LGate 120
10,982 kWh
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Pre-Solar Utility Bill Post-Solar Utility Bill
38%
59% 62% 65%
69% 73%
78% 83%
89%
96% 100% 100% 100%
-$5,000
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Cumulative Savings Percent Owned
Year
System Overview
System Size and Production
Utility
Post-Solar Energy Contribution
Your Custom-Designed System
Your Solar Savings and Ownership Timeline
Solar Savings and System Ownership
Electricity Bill Comparison
Annual Electricity Cost Comparison Production vs. Consumption Comparison
0
400
800
1,200
1,600
2,000
2,400
2,800
3,200
3,600
Usage Output
proposal is a preliminary estimate and not an approval for a finance product.obligation. No party, including the solar installer, their service providers and Dividend Solar, provides any guaranties, warranties or representations regarding the production, utility rate increases or any other data in this sales proposal. ThisThe interest rate provided in this sales proposal is subject to credit approval by Dividend Solar, the financing provider for your loan. The data provided in this sales proposal is a preliminary estimate and does not represent a binding agreement or
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Going solar will save you thousands of dollars on your utility bill over time. You can choose to keep your savings each month, but if you choose to use those
savings to pay off your loan earlier, your total savings will increase significantly.
Electricity Price Growth 4.8% 25-Year Total Savings $26,608
Savings Used to Paydown Loan? No Payback Period 20.0 Years
Downpayment $0
Annual Utility Bill Loan Payments With Savings Not Used to Paydown Loan Total Cash Flow Savings Total Equity
Year Pre-Solar Post-Solar Difference Loan Payment Surplus Credits Net Solar Payments Annual* Cumulative* in System**
1 $2,339 $1,155 $1,184 $1,230 $0 $1,230 -$46 -$46 $11,685
2 $2,451 $1,217 $1,234 $1,229 $0 $1,229 $6 -$41 $17,621
3 $2,569 $1,282 $1,287 $1,228 $0 $1,228 $59 $18 $18,015
4 $2,692 $1,350 $1,342 $1,228 $0 $1,228 $114 $132 $18,436
5 $2,821 $1,422 $1,400 $1,228 $0 $1,228 $172 $304 $18,886
6 $2,957 $1,498 $1,459 $1,228 $0 $1,228 $231 $535 $19,365
7 $3,099 $1,577 $1,522 $1,228 $0 $1,228 $294 $829 $19,876
8 $3,248 $1,661 $1,587 $1,228 $0 $1,228 $359 $1,188 $20,421
9 $3,403 $1,749 $1,655 $1,228 $0 $1,228 $427 $1,615 $21,003
10 $3,567 $1,841 $1,725 $1,228 $0 $1,228 $497 $2,112 $21,624
11 $3,738 $1,939 $1,799 $1,228 $0 $1,228 $571 $2,684 $22,286
12 $3,917 $2,041 $1,876 $1,228 $0 $1,228 $648 $3,332 $22,993
13 $4,105 $2,149 $1,956 $1,228 $0 $1,228 $728 $4,060 $23,747
14 $4,303 $2,263 $2,040 $1,228 $0 $1,228 $812 $4,872 $24,551
15 $4,509 $2,382 $2,127 $1,228 $0 $1,228 $899 $5,772 $25,409
16 $4,726 $2,507 $2,218 $1,228 $0 $1,228 $990 $6,762 $26,324
17 $4,952 $2,639 $2,313 $1,228 $0 $1,228 $1,085 $7,847 $27,301
18 $5,190 $2,778 $2,412 $1,228 $0 $1,228 $1,184 $9,031 $28,343
19 $5,439 $2,924 $2,515 $1,228 $0 $1,228 $1,287 $10,318 $29,454
20 $5,700 $3,078 $2,623 $1,228 $0 $1,228 $1,395 $11,713 $30,640
21 $5,974 $3,239 $2,735 $0 $0 $0 $2,735 $14,448 $30,640
22 $6,261 $3,409 $2,852 $0 $0 $0 $2,852 $17,300 $30,640
23 $6,561 $3,587 $2,974 $0 $0 $0 $2,974 $20,273 $30,640
24 $6,876 $3,775 $3,101 $0 $0 $0 $3,101 $23,374 $30,640
25 $7,206 $3,973 $3,233 $0 $0 $0 $3,233 $26,608 $30,640
Total $108,604 $57,435 $51,170 $24,562 $0 $24,562 $26,608 $26,608 $30,640
Utility Bill Savings $51,170
Plus: REC Income (if applicable) $0
Less: Net Solar Payments (incl. down payment) ($24,562)
25-Year Total Savings $26,608
* When applicable, includes REC income; cash flows exclude potential inverter replacement expenditure of approximately $1,000 in Year 16; excludes any down payment (if applicable)
** Year 1-2 equity increase driven primarily by Incentive Payment of $5,687, which is equal to the 30% Federal Tax credit, except in cases with down payments
+ =
Your Economics Full Service Simple Take back the power. We’ve got you covered. Say goodbye to paperwork.
• $0-down loan • Long-term full service offering • Instant credit decision
• Energy savings • Performance guarantee • Streamlined process
• You receive the tax benefits • System warranty • Online loan execution
• Invest in your home • Real-time monitoring • Automated payments
Annual Payment Comparison -- Savings NOT Used to Paydown Loan
Assumptions Savings and Payback Period
Benefits of Dividend Solar EmpowerLoan
proposal is a preliminary estimate and not an approval for a finance product.obligation. No party, including the solar installer, their service providers and Dividend Solar, provides any guaranties, warranties or representations regarding the production, utility rate increases or any other data in this sales proposal. ThisThe interest rate provided in this sales proposal is subject to credit approval by Dividend Solar, the financing provider for your loan. The data provided in this sales proposal is a preliminary estimate and does not represent a binding agreement or
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Going solar will save you thousands of dollars on your utility bill over time. You can choose to keep your savings each month, but if you choose to use those
savings to pay off your loan earlier, your total savings will increase significantly.
Electricity Price Growth 4.8% 25-Year Total Savings $29,397
Savings Used to Paydown Loan? Yes Payback Period 13.9 Years
Downpayment $0
Annual Utility Bill Loan Payments With Savings Used to Paydown Loan Total Cash Flow Savings Total Equity
Year Pre-Solar Post-Solar Difference Loan Payment Reinvested Savings Total Solar Payments Annual* Cumulative in System**
1 $2,339 $1,155 $1,184 $1,230 $0 $1,230 -$46 -$46 $11,685
2 $2,451 $1,217 $1,234 $1,229 $0 $1,229 $6 -$41 $17,621
3 $2,569 $1,282 $1,287 $1,228 $18 $1,246 $41 $0 $18,034
4 $2,692 $1,350 $1,342 $1,228 $114 $1,342 $0 $0 $18,574
5 $2,821 $1,422 $1,400 $1,228 $172 $1,400 $0 $0 $19,209
6 $2,957 $1,498 $1,459 $1,228 $231 $1,459 $0 $0 $19,948
7 $3,099 $1,577 $1,522 $1,228 $294 $1,522 $0 $0 $20,801
8 $3,248 $1,661 $1,587 $1,228 $359 $1,587 $0 $0 $21,778
9 $3,403 $1,749 $1,655 $1,228 $427 $1,655 $0 $0 $22,890
10 $3,567 $1,841 $1,725 $1,228 $497 $1,725 $0 $0 $24,150
11 $3,738 $1,939 $1,799 $1,228 $571 $1,799 $0 $0 $25,569
12 $3,917 $2,041 $1,876 $1,228 $648 $1,876 $0 $0 $27,163
13 $4,105 $2,149 $1,956 $1,228 $728 $1,956 $0 $0 $28,946
14 $4,303 $2,263 $2,040 $1,069 $677 $1,746 $294 $294 $30,640
15 $4,509 $2,382 $2,127 $0 $0 $0 $2,127 $2,422 $30,640
16 $4,726 $2,507 $2,218 $0 $0 $0 $2,218 $4,640 $30,640
17 $4,952 $2,639 $2,313 $0 $0 $0 $2,313 $6,953 $30,640
18 $5,190 $2,778 $2,412 $0 $0 $0 $2,412 $9,365 $30,640
19 $5,439 $2,924 $2,515 $0 $0 $0 $2,515 $11,880 $30,640
20 $5,700 $3,078 $2,623 $0 $0 $0 $2,623 $14,503 $30,640
21 $5,974 $3,239 $2,735 $0 $0 $0 $2,735 $17,238 $30,640
22 $6,261 $3,409 $2,852 $0 $0 $0 $2,852 $20,089 $30,640
23 $6,561 $3,587 $2,974 $0 $0 $0 $2,974 $23,063 $30,640
24 $6,876 $3,775 $3,101 $0 $0 $0 $3,101 $26,164 $30,640
25 $7,206 $3,973 $3,233 $0 $0 $0 $3,233 $29,397 $30,640
Total $108,604 $57,435 $51,170 $17,035 $4,737 $21,772 $29,397 $29,397 $30,640
Utility Bill Savings $51,170
Plus: REC Income (if applicable) $0
Less: Net Solar Payments (incl. down payment) ($21,772)
25-Year Total Savings $29,397
* When applicable, includes REC income; cash flows exclude potential inverter replacement expenditure of approximately $1,000 in Year 16; excludes any down payment (if applicable)
** Year 1-2 equity increase driven primarily by Incentive Payment of $5,687, which is equal to the 30% Federal Tax credit, except in cases with down payments
There are significant economic benefits of using the savings on your electric bill to paydown your EmpowerLoan early, allowing you to maximize total savings.
Benefit of Using Savings to Paydown Loan: $2,790
$26,608 $29,397
Savings NOT Used to Paydown Loan
Savings Used to Paydown Loan
20.0 Years
13.9 Years
Savings NOT Used to Paydown Loan
Savings Used to Paydown Loan
Annual Payment Comparison -- Savings Used to Paydown Loan
Assumptions Savings and Payback Period
Benefits of Using Savings to Paydown Your EmpowerLoan
Total Savings Over 25 Year Period Payback Period
proposal is a preliminary estimate and not an approval for a finance product.obligation. No party, including the solar installer, their service providers and Dividend Solar, provides any guaranties, warranties or representations regarding the production, utility rate increases or any other data in this sales proposal. ThisThe interest rate provided in this sales proposal is subject to credit approval by Dividend Solar, the financing provider for your loan. The data provided in this sales proposal is a preliminary estimate and does not represent a binding agreement or
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Utility CompanyCurrent Rate Structure
Post-Solar Rate Structure
Current Annual Utility Bill $2,339Annual Utility Price Escalator 4.8%
System Size (kW) 8.3 Component Quantity Type
Year 1 System Production (kWh) 10,982 Module 32
Annual System Degradation 0.5% Inverter 1
25-Year System Production (kWh) 258,703 Monitor 1
Note: Your system includes 15 years of production guarantees, warranty management and performance monitoring.
Total Loan Amount $18,955Interest Rate 6.49% The interest rate provided in this sales proposal is subject to credit approval by Dividend Solar. Loan Term 20 Years Please read the section below regarding No Prepayment PenaltiesRequired Payment by Month 16 $5,687 Please read the section below regarding the Incentive Payment
Upfront Rebate $11,685 Federal Tax Incentive ($) $5,687 State Tax Incentive ($) $0 Other Incentive $0
Note: All incentives and rebates are based on the available incentives at the time of this sales proposal, and are subject to future regulatory changes.
Incentive Payment Overview -- 30% of Loan Amount due by Month 16
No Prepayment Penalties to Maximize Savings
Solar System Lifespan
Net Metering
Automatic Payment ("ACH") Discount
SP-14341*Neither Elevation Solar nor Dividend Solar provides tax or legal advice. You should consult your tax advisor for more information.
CPS Energy (City Public Service Board of San Antonio)$0.10Net Metered Residential Service (Rate RE)
SMA America, SB77000US (240V)Hanwha Q-Cells, Q.PRO BFR - G3 260
Please note that interest rates quoted in Loan Agreements include a 0.50% automatic payment (ACH direct debit) discount. If you do not wish to sign up for automatic
payments, your loan will not include the 0.50% automatic payment discount.
At times, your solar energy system will produce more electricity than you can use, and the surplus electricity is returned to the utility grid to be used by other consumers.
This process is called “net metering,” and it effectively credits you for excess production and bills you for the net amount of electricity that you have pulled from the grid.
Locus LGate 120
Note: This sales proposal was modeled using the rate structures shown above. If the Post-Solar Rate Structure is different than your Current Rate Structure, you should
contact your utility company to switch to the Post-Solar Rate Structure after installation. This will allow you to maximize your savings and realize the full economic benefits
outlined in this sales proposal.
One of the biggest advantages of buying (rather than leasing) your solar energy system is that you may qualify for a tax credit from the federal government of up to 30% of
the expenditure of your system.* In order to keep your interest rate low, the loan terms require you to use your tax credit to pay down the principal on your EmpowerLoan
by the 16th month of your loan (the Incentive Payment). The Incentive Payment amount is equal to 30% of your loan amount. In most cases, this is money you would
otherwise owe to the federal government that you are now able to use to invest in your energy independence. If you don’t make the Incentive Payment in full by the 16th
month of your loan, your outstanding principal will be subject to an increased interest rate until the Incentive Payment is made, after which your interest rate will return to
your original low rate.
You can prepay your loan at any time without penalty. Prepayments will not change the interest rate or monthly minimum payment required, but paying early will reduce
the effective term of your loan and save you money by reducing the amount of interest you will pay in the future. If you choose to use your monthly savings to help pay off
your loan, you can maximize savings over the life of your system.
Most solar systems can be productive for 25-30 years or more and their primary operating components come with long-term manufacturers' warranties. As part of your
EmpowerLoan, Elevation Solar will manage those warranties and provide long-term system performance guarantees on your system.
Key Proposal Assumptions
Utility Assumptions
System Assumptions
Loan Assumptions
Incentive Assumptions
What Else Do I Need to Know?
proposal is a preliminary estimate and not an approval for a finance product.obligation. No party, including the solar installer, their service providers and Dividend Solar, provides any guaranties, warranties or representations regarding the production, utility rate increases or any other data in this sales proposal. ThisThe interest rate provided in this sales proposal is subject to credit approval by Dividend Solar, the financing provider for your loan. The data provided in this sales proposal is a preliminary estimate and does not represent a binding agreement or
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