The "Your Solar Payment" amount on the proposal will look and calculate differently depending on the type of finance option selected. Click a link below to jump to the section explaining that finance type:
For Loans
The "Your Solar Payment" value represents the monthly payments the customer will make for the majority or all of their solar loan. It is pulled from the loan payments calculated for the selected finance option.
If the loan re-amortizes then the Solar Payment value will be the monthly cost for months, after re-amortization. Typically, the period post re-amortization is the longer period, so we use this value as it is more representative of how much the homeowner will be paying monthly.
For example, in the image above, the homeowner is only going to be paying $344 for the first 18 months. For the remaining 102 months of the loan, they'll be paying $495.
For PPAs/Leases
If the selected finance option is a PPA or Lease option, the "Your Solar Payment" value be replaced with a "Year 1 Solar Payment", which represents the estimated monthly payments the customer will pay during the first year of their lease/PPA.
Like loans, this value will be pulled from finance calculations, specifically the selected option's "Estimated 1st Year Monthly Payment" value.
For Cash
When the selected finance option is cash, the "Your Solar Payment" value will be $0. It is assumed that all cash payments are made up front and that no monthly payments need to be calculated.