Solar loan calculator: estimate your monthly solar loan payments

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Solar panel systems have high upfront costs, but over time you should get your money back by saving on your utility bill. If you are considering a solar loan to finance the panels, a solar loan calculator can help you determine how much you can afford to borrow.

Use this solar loan calculator to estimate your monthly loan payments and the total amount of interest you will pay.

Understanding the results of your solar loan calculator

Monthly payment: This is the amount you will pay each month for your loan.

Total interest paid: This is the amount of interest you will pay over the life of the loan. Interest rates on solar loans range from around 6% to 36%, and the rate you receive depends on your credit, income, existing debt, and other factors. Borrowers with high credit scores and little debt often get the lowest interest rates.

Total payments: This is the amount you will pay at the end of the loan, including the principal and interest on the loan.

Pre-qualify for an unsecured personal loan

Prequalification allows you to see the rate a lender can offer you without asking for a loan. Prequalifying for a personal loan with NerdWallet allows you to see personalized offers from multiple lenders without impacting your credit score.

Once you have reviewed your rates, you can start an application.

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