We’ve been on the radio at WWOJ 99.1 FM answering some of the top frequently asked questions about solar. Let’s take a peek at the transcript of the conversation between radio host OJ Scott and Coronado solar consultant Mark Swift from Friday, December 11, 2020…
OJ: We’re talking solar though with Mark Swift at Coronado Solar this afternoon. Hey Mark, how’s your Friday going?
MARK: It’s going great, OJ. Another sunny day in Florida.
OJ: I know, we get a lot of those, isn’t it great? You know we’ve talked about how solar energy can start saving you money right off the bat, and also how there’s tax advantages that help with that. It can even increase the property value. But typically can you give us an idea, how long does it take to recoup your investment if you go solar?
MARK: That’s a great question, OJ, that’s a great question! You know, there are a lot of people out there who want to know the cost of going solar and we’ve talked about that, and then there’s the investor mindset that says so when is this going to make sense financially as an investment? So here’s the rate of return if you were to simply purchase it like you’re purchasing investment…
MARK: …It’s going to return at, again depending on your tax investment, somewhere between six and eleven years. So at that point you will have spent that money with the energy company either way, but when you factor in the value-add to your home, it drops the rate of return to one year, which gets pretty silly.
MARK: The other way of putting it into context is your investment has about a nine percent rate of return as purely cash invested, and we have interest rates as low (as we said earlier on the radio) as .99 percent. So if you are making 9% and paying 1% in interest you are still making 8% even if you turn it into a monthly payment.
OJ: I hadn’t thought about that. I mean, I was sitting here thinking, yeah cash up front, but that’s not really the case. You can finance it and save money right from the get-go.
MARK: Exactly! People want to replace their monthly energy bill that maybe they’re not excited about with a monthly solar payment they can be very excited about and it’s still a good investment. It still adds value to your property. It still comes in lower than your previous payment and you are still making a return on an investment even if you break it up into a monthly piece.
OJ: Okay, hey good stuff, Mark. Lots of questions to get to yet next week. Looking forward to that. Remind the folks how to get ahold ofyou.You have a website and a FB page, too, right?
OJ: All right, hey we’ll talk to you next week. Thanks, Mark. Have a good weekend.
MARK: You too, OJ. Have a great weekend. Bye bye.
OJ: We appreciate it. Mark Swift there, Coronado Solar, he’ll save you a lot of money. Give him a call there: 863-399-9066.
That’s the transcript! We hope you enjoyed it. You can listen to the full audio here: https://youtu.be/K602GXgnXrw.
You can also listen to some of our other segments below:
One: Does Switching to Solar Really Save You Money? https://www.youtube.com/watch?v=TGKCu6EIjfU
Two: What Does the Installation Look Like? https://www.youtube.com/watch?v=cN2nCVhJE5g
Three: How Much Can You Save By Going Solar? https://www.youtube.com/watch?v=1yYC18rjwPw
Four: What is the Tax Advantage to Going Solar? https://www.youtube.com/watch?v=NOzr0CoMDac
Merry Christmas and Happy Holidays from all of us at Coronado Solar!