Rate Hub Mortgage Affordability Calculator

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.solar-calc-container { background-color: #f9fbfd; padding: 25px; border: 2px solid #e1e8ed; border-radius: 12px; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif; max-width: 700px; margin: 20px auto; color: #333; } .solar-calc-container h2 { color: #2c3e50; margin-top: 0; text-align: center; font-size: 24px; } .solar-calc-grid { display: grid; grid-template-columns: 1fr 1fr; gap: 15px; margin-bottom: 20px; } @media (max-width: 600px) { .solar-calc-grid { grid-template-columns: 1fr; } } .solar-calc-field { display: flex; flex-direction: column; } .solar-calc-field label { font-size: 14px; font-weight: 600; margin-bottom: 5px; color: #444; } .solar-calc-field input { padding: 10px; border: 1px solid #ccc; border-radius: 6px; font-size: 16px; } .solar-calc-btn { background-color: #27ae60; color: white; border: none; padding: 15px; width: 100%; font-size: 18px; font-weight: bold; border-radius: 6px; cursor: pointer; transition: background 0.3s; } .solar-calc-btn:hover { background-color: #219150; } .solar-calc-result { margin-top: 25px; padding: 20px; background-color: #fff; border-radius: 8px; border-left: 5px solid #27ae60; box-shadow: 0 2px 10px rgba(0,0,0,0.05); } .solar-calc-result h3 { margin: 0 0 15px 0; font-size: 20px; color: #2c3e50; } .solar-calc-result p { margin: 8px 0; font-size: 16px; display: flex; justify-content: space-between; } .solar-calc-result p strong { color: #27ae60; } .solar-article { max-width: 800px; margin: 40px auto; line-height: 1.6; color: #444; } .solar-article h2 { color: #2c3e50; font-size: 28px; } .solar-article h3 { color: #34495e; font-size: 22px; margin-top: 25px; } .solar-article ul { margin-bottom: 20px; } .solar-article li { margin-bottom: 10px; }

Solar Panel Savings Calculator

function calculateSolarReturn() { var size = parseFloat(document.getElementById('solar_system_size').value); var costWatt = parseFloat(document.getElementById('solar_cost_per_watt').value); var sunHours = parseFloat(document.getElementById('solar_sun_hours').value); var rate = parseFloat(document.getElementById('solar_elec_rate').value); var resultDiv = document.getElementById('solar_result_box'); var resultContent = document.getElementById('solar_result_content'); if (isNaN(size) || isNaN(costWatt) || isNaN(sunHours) || isNaN(rate) || size <= 0) { alert("Please enter valid positive numbers for all fields."); return; } // Calculations var grossCost = size * costWatt * 1000; var federalCredit = grossCost * 0.30; // 30% Residential Clean Energy Credit var netCost = grossCost – federalCredit; var annualGeneration = size * sunHours * 365; // Estimated annual kWh var annualSavings = annualGeneration * rate; var paybackYears = netCost / annualSavings; var lifetimeSavings = (annualSavings * 25) – netCost; // 25 year estimate var html = "

Investment Summary

"; html += "Gross System Cost: $" + grossCost.toLocaleString() + ""; html += "Federal Tax Credit (30%): -$" + federalCredit.toLocaleString() + ""; html += "Net Investment: $" + netCost.toLocaleString() + ""; html += "
"; html += "

Estimated Returns

"; html += "Annual Energy Savings: $" + annualSavings.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + ""; html += "Estimated Payback Period: " + paybackYears.toFixed(1) + " Years"; html += "25-Year Net Savings: $" + lifetimeSavings.toLocaleString(undefined, {maximumFractionDigits: 0}) + ""; resultContent.innerHTML = html; resultDiv.style.display = 'block'; }

Understanding Your Solar Investment and ROI

Switching to solar energy is one of the most significant financial and environmental decisions a homeowner can make. This calculator helps you estimate the financial feasibility of installing a photovoltaic (PV) system based on your local climate and utility costs.

Key Factors That Influence Your Savings

  • Peak Sun Hours: This is not the total daylight hours, but the intensity of sunlight. Areas like Arizona may receive 6 peak hours, while the Pacific Northwest might average 3.5.
  • System Size: Measured in kilowatts (kW), the size of your system determines how much power you can generate. A standard residential system usually ranges between 5kW and 10kW.
  • Cost per Watt: Currently, the national average ranges from $2.50 to $3.50 per watt installed. This includes panels, inverters, labor, and permitting.
  • Electricity Rates: The more you pay your utility company per kilowatt-hour (kWh), the more money you save by generating your own power.

The 30% Federal Solar Tax Credit

The Investment Tax Credit (ITC), also known as the Residential Clean Energy Credit, allows you to deduct 30% of the cost of installing a solar energy system from your federal taxes. Our calculator automatically applies this credit to show you the "Net Cost," which is the actual out-of-pocket investment after tax season.

Example Calculation: A Standard 6kW System

If you install a 6kW system at a price of $3.00 per watt, your gross cost is $18,000. After the 30% federal tax credit ($5,400), your net investment drops to $12,600.

If you live in an area with 4.5 peak sun hours and your utility charges $0.15/kWh:

  • Annual Generation: 6kW * 4.5 hours * 365 days = 9,855 kWh per year.
  • Annual Savings: 9,855 kWh * $0.15 = $1,478.25.
  • Payback Period: $12,600 / $1,478.25 = ~8.5 Years.

Since most solar panels are warrantied for 25 years, you would enjoy over 16 years of essentially "free" electricity after the system has paid for itself.

Why Use a Solar Calculator?

Market prices and utility rates fluctuate. By using specific data for your expected system size and local sun conditions, you can move beyond generic estimates to see the real-world impact on your household budget. Remember to consider local state incentives or SRECs (Solar Renewable Energy Certificates) which may further reduce your payback period.

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