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Solar panel systems have high upfront costs, but you should make the money back in savings on electricity over time. If you’re planning to finance the solar panels, a solar loan calculator can help you determine how much you can afford to borrow.
Use this solar loan calculator to estimate monthly payments toward your loan and how much interest you’ll pay.
» MORE: Compare solar loan options
Understanding your solar loan calculator results
Monthly payment is the amount you’ll pay each month toward your loan. Part goes to interest and the rest goes to the principal.
Total interest payments is the amount you’ll pay in interest alone over the lifetime of the loan. This number tells you how much it actually costs to borrow the funds.
Total loan payments is the amount you’ll pay by the end of the loan, including the loan principal and interest.
Solar loan calculator
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Pre-qualify for an unsecured personal loan
Pre-qualifying allows you to see the rate a lender can offer you without applying for a loan. You can see personalized offers from multiple lenders without impacting your credit score when you pre-qualify with NerdWallet.
Once you’ve reviewed your rates, you can start an application.
Other solar panel financing options
Compare home improvement loans: See which lenders offer the best personal loans for home improvements.
Use a home equity loan: A home equity loan can provide a lump sum of money at a low rate.