To use this calculator, input your solar system size, current electricity rate, and annual electricity usage. Select your preferred lease term and enter the PPA rate if applicable. You can also provide your zip code to tailor the calculations to local conditions.
The calculator uses the formula: Total Cost = Annual Usage * Rate * (1 + Annual Increase)^Years. It calculates the total cost of electricity with and without solar options over the lease term.
For a 5 kW system with a $0.13/kWh rate, 10,000 kWh annual usage, and a 20-year lease term, the calculator will show the total lease cost, PPA cost, and savings compared to traditional electricity costs.
When deciding between leasing and buying solar panels, consider the long-term financial implications, potential savings, and local incentives. Leasing may offer lower upfront costs, while buying can provide greater savings over time.
Explore other calculators like the Mortgage Calculator and Loan Calculator for more financial insights.