Albert Malven's Solar Home Proposal. Prepared for: Albert Malven 1223 Big Lake San Antonio, TX 78245

Transcription

1 Albert Malven's Solar Home Proposal Prepared for: Albert Malven 1223 Big Lake San Antonio, TX 78245

2 The smartest way to buy power A power bill that never goes up and ultimately goes away. How you buy power now Rising rates & a lifetime bill. Renting your power is costly. Your power bill keeps going up and never gets paid off. Compare your average monthly bill with the amount you'll be paying in 25 years: $93 $295 $52,812 Current bill Estimated bill in 25 years 25-Year cost of doing nothing Utility Bill without Vision Solar Average of 4.9% a year in utility rates rising A few reasons to stop renting your power: - Rates go up every year - forever - You'll always have a power bill - Hundreds a month to budget - Your money goes down the drain Year 1 Year 25 There's a smarter way Pay-off your power bill for good Year 1 Year 25 Utility Bill without Vision Solar Energy Investment Free Power Solar is the smart choice. Why? A bill that never goes up and ultimately goes away. How? The subsidies and net metering that are now available right here in our state. Solar puts your money to work for you. In the same way you pay off your home or car, with solar you'll pay off your power bill - and your bill never goes up.

3 Your custom solar system Prepared by your personal solar experts at Vision Solar Your solar system offset Solar assumptions System Size (kw) 7.3 kw Year 1 System Production (kwh) 10,522 kwh Utility Power: 2% Solar Power: 98% 25-Year System Production (kwh) 247,854 kwh Solar with everything included The way solar should be Solar gives you equity Increase your home's value We make your switch to solar completely worry-free. Go solar for nothing down, lock-in low rates that never go up, and ultimately enjoy free power. We'll also include: Solar increases the value of your home by lowering expenses. It's cheaper to run a solar-powered home. Add immediate equity to your home with Vision Solar. 24/7 "Round the Clock" System Monitoring Full-Service Maintenance & Repair Worry-Free Roof Warranty & Insurance Solar Production Guarantees Installations performed by a Licensed Contractor Texas - Vision Solar Contractor, Inc #30990

4 You own your home, why are you renting power? No pre-payment penalty Easy transfer No lien on your home Instant equity Option A. Minimum Payment Year 20 $23,731 Pre-Incentive Post-Incentive Bill free power 25-Year solar savings +$2 Option B. Savings Reinvestment +$27 Year 13 $26,441 Pre-Incentive Post-Incentive Bill free power 25-Year solar savings + avg. reinvested savings How much will solar save you? A closer look at saving money System summary Let's break down the numbers Utility kwh rate breakdown $52, Year Savings, $26, Utility Total system price Upfront rebate Down payment (if any) Loan amount $24,752 ($9,931) -- $14,821 $16,496 $9,876 Total system price Federal tax incentive ($) State tax incentive ($) Solar Upfront Rebate ($) The cost of Solar Net system cost doing nothing savings 7 Average over 25 years $24,752 ($4,446) -- ($9,931) $10,375 Installations performed by a Licensed Contractor Texas - Vision Solar Contractor, Inc #30990

5 Utility Assumptions Key Proposal Assumptions and Inputs Representative Details Utility Company CPS Energy (City Public Service Board of San Antonio) Mario Estrada Current Rate Structure Residential Service (Rate RE) (843) Post-Solar Rate Structure Net Metered Residential Service (Rate RE) Current Annual Utility Bill $1,122 New Monthly Utility Bill $12 Bill Offset 87.3% Annual Utility Price Escalator 4.9% Note: Savings projections assume that current electricity rates will continue to be in effect going forward. In most markets, Net Metering policies are currently in place that provide additional savings for going solar. System Assumptions System Details System Size (kw) 7.3 Modules 28 Tier Watt Year 1 System Production (kwh) 10,522 Inverters 28 Enphase M215 Annual System Degradation 0.5% Monitor 1 Locus LGate Year System Production (kwh) 247,854 Loan and Incentive Assumptions Total System Cost $24,752 Upfront Rebate ($9,931) Down Payment $0 Total Loan Amount $14,821 Federal Tax Incentive ($) $4,446 State Tax Incentive ($) $0 Other Rebate / Incentive $0 Interest Rate 6.49% The interest rate provided in this sales proposal is subject to credit approval by Dividend Solar. Loan Term 20 Years Required Payment by Month 16 $4,446 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. What Else Do I Need to Know? Who Is Dividend Solar? Dividend Solar is Vision Solar's financing partner who offers the $0-down EmpowerLoan so you can own your solar energy system with no out-of-pocket cost. Dividend Solar is the provider and servicer of your loan. If you have any questions, please call Dividend Solar at (844) Incentive Payment Overview -- 30% of Loan Amount due by Month 16 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. No Prepayment Penalties to Maximize Savings 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. Solar System Lifespan Most solar systems can be productive for years or more and their primary operating components come with long-term manufacturers' warranties. As part of your EmpowerLoan, one of Dividend Solar's partners will manage those warranties and provide long-term system performance guarantees. SP *Neither Vision Solar nor Dividend Solar provides tax or legal advice. You should consult your tax advisor for more information. The 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 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. This proposal is a preliminary estimate and not an approval for a finance product.

6 Annual Payments and Savings Over Time Option B. Utility Bill Savings Option A. Minimum Payment Re-investing savings Year from Solar Loan Payment* Benefits and Incentives Annual Savings Loan Payment Annual Savings 1 $980 $962 $0 $18 $980 $0 2 $1,023 $5,407 $4,446 $62 $5,469 $0 3 $1,068 $960 $0 $107 $1,068 $0 4 $1,114 $960 $0 $154 $1,114 $0 5 $1,163 $960 $0 $203 $1,163 $0 6 $1,214 $960 $0 $254 $1,214 $0 7 $1,267 $960 $0 $307 $1,267 $0 8 $1,322 $960 $0 $362 $1,322 $0 9 $1,380 $960 $0 $420 $1,380 $0 10 $1,441 $960 $0 $481 $1,441 $0 11 $1,504 $960 $0 $544 $1,504 $0 12 $1,570 $960 $0 $609 $1,570 $0 13 $1,638 $960 $0 $678 $1,451 $ $1,710 $960 $0 $750 $0 $1, $1,785 $960 $0 $825 $0 $1, $1,863 $960 $0 $903 $0 $1, $1,944 $960 $0 $984 $0 $1, $2,029 $960 $0 $1,069 $0 $2, $2,118 $960 $0 $1,158 $0 $2, $2,211 $960 $0 $1,251 $0 $2, $2,308 $0 $0 $2,308 $0 $2, $2,409 $0 $0 $2,409 $0 $2, $2,514 $0 $0 $2,514 $0 $2, $2,624 $0 $0 $2,624 $0 $2, $2,739 $0 $0 $2,739 $0 $2,739 Total $42,937 $23,652 $4,446 $23,731 $20,942 $26,441 Solar Ownership Timeline $50, % 100% 100% 100% 100% 100% 100% $45,000 $40,000 89% $35,000 79% 71% $30,000 61% 65% $25,000 $20,000 40% $15,000 $10,000 $5,000 $ Value of Solar Ownership* Percent Owned * Note: Value of solar ownership includes cash savings and equity built in system