Act before year’s end to maximize federal tax incentives
The pandemic will end. It may not seem like it right now but, trust me, it will. When the coronavirus is past us, we will get back to normal. Imagine if your new, post-COVID normal included solar energy panels on your roof.
Federal tax incentives are not scheduled to end. But, at the end of this year, they will shrink a bit. Translation: you have just over four months to take advantage of the current higher tax incentives.
What you really want to take advantage of are the UV rays that are bombarding the roof of your home and doing nothing more than making the shingles hot. Imagine the rays of the sun warming the lining of your wallet.
This has been a crazy year. It’s been a rough year. However, people with foresight look upon times like these, and situations such as this, as opportunities. How can you make the most of the situation?
If you emerge from the coronavirus with a solar energy system turning the light of the sun into energy you’ll really have accomplished something. For some people, looking back, the most they’ll have to say about the pandemic is, “I watched every episode of Harry Potter 10 times.”
The thing is that, with streaming, they can watch Harry Potter as many times as they want after the pandemic. But on January 1, 2021, the federal tax incentive will fall from 26 percent to 22 percent. That represents opportunity lost for those who wait too long. It’s four percent of tax benefit for those who act now – who don’t allow the pandemic to put them in a hole and keep them there.
The sun shines as brightly during the pandemic as it did before the virus and as much as it will after the virus is past. With a solar energy system, homeowners can virtually cut the cord from the big utility companies. Then, when they watch Harry Potter, or any other programming they want to see, they won’t be giving their money to the utility company to operate the television.