Solar Loan Calculator
Estimate the monthly payment on a solar panel loan, plus the total interest and a full amortization schedule. Enter the system cost you're financing, the APR and the term to see what going solar costs to borrow before any tax credits or energy savings.
How to use it
Enter the system cost financed — the installed price minus any down payment — along with the APR and the term. The calculator returns your fixed monthly payment, the total interest and a month-by-month schedule. Solar loans commonly run 10 to 20 years.
Many borrowers compare the loan payment against their expected electric-bill savings: if the monthly payment is below what you'd otherwise pay the utility, the system can be cash-flow positive. Remember that a federal tax credit, if you qualify, can be applied to reduce the balance — re-run the numbers with the lower amount to see the effect.
Frequently asked questions
What should I enter as the amount?
The financed portion of the installed system cost, after any cash down payment. If you plan to apply a tax credit toward the loan, you can also run a second estimate with the reduced balance.
Why are solar loan terms so long?
Longer terms (10–20 years) keep the monthly payment low enough to stay below typical electric-bill savings, which is how solar financing is often marketed. The trade-off is more total interest — compare terms above.
Should I include the tax credit?
The federal residential clean-energy credit, if you qualify, is claimed on your taxes and is often used to pay down the loan within the first year or two. This calculator estimates the loan itself; run it again with the lower balance to see the post-credit payment.
BriskToolbox provides estimates for general information only and is not financial advice.