Year 1: Electric reduced from $145 to $9 (Save $136) and Loan payment is 0.
= Savings of $1,632 the very 1st year!
Year 2: Electric Bill $9 (savings of $136) and loan payment is $135.
= Savings of $12 over course of 2nd year
THE REAL SAVINGS START AS YOUR UTILITY COMPANY RAISES ELECTRIC RATES.
YOU ARE LOCKED INTO A SMALL LOAN PAYMENT AND ALL OTHER HOMEOWNERS WILL HAVE TO INCUR THE RISING COSTS OF ELECTRIC.
Electric rates have proven to rise over 50% every 5 years!
Year 10: Loan payment is still $135 but electric bill may be in excess of $220 by then. That’s a yearly savings of over $800 and the savings will increase every year.