| Estimated PV payback with accelerated mortgage payoff and savings from new meter | ||||||||||||
| California Income Tax Rate | Assumed Federal Tax Rate | |||||||||||
| 9.30% | 25% | |||||||||||
| Year | Regular Mortgage Payments | Interest Paid | CA tax mortgage deduction | Interest - CA deduction -15% CA tax credit | Federal Tax Deduction | Net Cost of Loan | PV Savings | Cash Flow PV | Estimated Savings from New Meter | Cash Flow PV and New Meter | End of Year Mortgage Principal | |
| 1 | $3,758.27 | $3,062.85 | $ 284.85 | $ 2,778.00 | $ 694.50 | $2,778.92 | $2,009.73 | ($769.19) | $2,692.66 | $1,923.47 | $40,315.11 | 2003-2004 |
| 2 | $3,006.61 | $2,299.69 | $ 213.87 | $(5,442.18) | $(1,360.55) | $4,153.29 | $1,827.80 | ($2,325.49) | $2,439.40 | $113.91 | $39,494.27 | 2004-2005 |
| 3 | $2,544.17 | $1,961.46 | $ 182.42 | $ 1,779.04 | $ 444.76 | $1,916.99 | $2,675.01 | $758.02 | $2,460.95 | $3,218.97 | $35,692.60 | 2005-2006 |
| 4 | $2,544.17 | $1,766.99 | $ 164.33 | $ 1,602.66 | $ 400.66 | $1,979.17 | $3,761.58 | $1,782.41 | $2,958.50 | $4,740.91 | $30,174.52 | 2006-2007 |
| 5 | $2,544.17 | $1,484.67 | $ 138.07 | $ 1,346.60 | $ 336.65 | $2,069.44 | $3,716.75 | $1,647.31 | $2,134.96 | $3,782.26 | $25,332.76 | 2007-2008 |
| 6 | $2,544.17 | $1,236.94 | $ 116.56 | $ 1,120.38 | $ 280.09 | $2,147.51 | $4,386.13 | $2,238.62 | $2,611.19 | $4,849.81 | $19,175.73 | 2008-2009 |
| 7 | $2,544.17 | $ 921.95 | $ 88.05 | $ 833.90 | $ 208.48 | $2,247.64 | $4,386.13 | $2,138.48 | $2,611.19 | $4,749.67 | $12,803.84 | 2009-2010 |
| 8 | $2,544.17 | $ 595.94 | $ 56.20 | $ 539.74 | $ 134.94 | $2,353.03 | $4,386.13 | $2,033.09 | $2,611.19 | $4,644.28 | $ 6,211.33 | 2010-2011 |
| 9 | $2,544.17 | $ 258.65 | $ 24.05 | $ 234.60 | $ 58.65 | $2,461.46 | $4,386.13 | $1,924.66 | $2,611.19 | $4,535.85 | Paid off | 2011-2012 |
| 10+ | $0.00 | $0.00 | $4,386.13 | $4,386.13 | $2,611.19 | $6,997.32 | ||||||
| Assumptions about mortgage amount and interest rates are detailed in the Mortgage tab. | ||||||||||||
| In this analysis, the cash flow from the PV and meter is used at the end of the year to pay down the mortgage faster. | ||||||||||||
| Numbers in blue represent assumption that future year savings will be same as current year savings. | ||||||||||||
| Federal tax deduction in year two is negative because we had to pay Federal income tax on the 15% tax credit that we got from California. | ||||||||||||
| California's top incremental income tax rate for 2009 and 2010 increased by 0.25% to 9.55%. | ||||||||||||
| New Meter Savings assumes that if we still had the old meter, that it would continue to read a usage of 80 KWH/day. | ||||||||||||
| When the new meter was put in, the new meter read a usage 46% lower than the old meter (independent of the PV array). | ||||||||||||
| We suspect the old meter read Volt-Amperes and the new meter reads Watts | ||||||||||||
| and that the difference is caused by the Power Factor from the inductive loads of the computers. | ||||||||||||