Fred,

Thanks for the example calcs. Attached is a simple calculator (I already had it…) in which I put your project parameters (and a few others). As you note, it can be hard to get enough savings to make the bill neutral work. A few general notes and comments:

· The term and interest rates for our current program have changed (a little). The rates are 5% or 6% depending on qualification. Term is flexible at 5, 7, or 10 years regardless of loan amount. For lower loan amounts, this second part helps on the bill neutral part.
· Are you getting some real estimates for the upgrades to come to the $6k number? Based on what we generally see for the scope you describe, I would expect the amount to be substantially higher (like around $10k). I know this just makes it more challenging.
· A minor point perhaps, but appliances don’t qualify because they are not a permanent part of the premise.

-John