Let the sun pay you with solar tax credits
In case you missed our live chats between Mark Swift and O.J. Scott from WWOJ 99.1 FM, here’s another transcript. Learn about federal tax credit extensions and new solar panel efficiency for 2021!
OJ: We’re talking solar with Coronado Solar with Mark Swift this afternoon. Mark, how’s your day going?
MARK: My day is great, thank you, Scott. Happy New Year!
OJ: Happy New Year, just about! So, yeah, last day of 2020. I guess I’ll be glad when this one’s in the rear-view mirror. But we’ve been talking about how solar just makes so much sense financially, but it gets even better because there’s significant federal tax advantages. Can you tell us a little bit about that, Mark?
MARK: I sure can, and the news gets better than that. I think we talked on the radio a few days ago but just to remind everybody—the tax credit that was established right about the turn of the century and went into effect in 2008—it was set to expire next year, and something that just, just happened a couple of days ago… they decided to extend it for another few years. So for the next two (years) we have a 26% tax credit and that means whatever it is you are going to add to your home, that value, you get 26% of it back in your taxes right away.
OJ: Oh my goodness, that’s a lot! That’s a lot of money!
MARK: Yeah, I mean, if I could get a quarter of my next vehicle paid for I’d be so happy!
OJ: (laughs) So, yeah, there’s other savings as well. Right? Talk to us about some of the other ways solar saves you money.
MARK: Well, because there is that tax benefit—that tax return that many of us can enjoy, almost everyone—that ends up creating a payment that is usually $30, $40, $50 a month less expensive than what we’re currently paying for the electric bill on average every month. But it got even a little sweeter. We just got word from the warehouse and we are getting a new solar panel for 2021. It’s just a small step forward from where we have been in years past, but this new panel has made us just a little bit more efficient. Of course, we use American-made, so it’s a good, long-life, 25-year warranty panel. But with the high production—I mean, it makes a lot of electricity per panel—and the high efficiency, it’s saving people another 5% over what they could expect last year. So, with the tax credit bonus and this efficiency bonus you’re getting over 30% savings.
OJ: Wow, it just gets better and better! All right Mark, well, you and I—we’re going to ring in the New Year tomorrow and talk about solar again tomorrow. I always look forward to our talks on the radio. But remind the folks how to get in touch with you, and your website too.
MARK: I look forward to tomorrow, Scott. The website is coronadosolar.net. You can always find us there and click “request a quote” so you can find out how much you can save. Or you can call me directly at 863-399-9066 and just ask for Mark.
OJ: Coronado solar! Give Mark a call 863-399-9066.
For more transcripts, check out our blog posts here, here and here. You can listen to the recorded spots here. Thanks for joining us!
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