When helping a homeowner consider going solar, an important topic to discuss with them is the age and condition of their existing roof. Solar systems typically have a 25-year warranty and can last much longer. The life expectancy of an existing roof is about 15 to 25 years. Therefore, if the homeowner’s roof is already 10 to 15 years old it makes sense that if they install a solar system now, they will need to have it removed and reinstalled in the future to reroof their home. So, it may be wise for the homeowner to consider getting a new roof with solar panels at the same time.
A new roof is a costly consideration for most homeowners. The national average for replacing a roof is between $9,500 and $20,000, with most people paying $14,000 for replacing 2,000 sq. ft. of architectural shingles on a 2-story home. However, if they replace their roof in conjunction with installing a solar system with our company, we can add the cost of the roof into the financing. Of course, this will increase the monthly payment throughout the 25 years of the solar system loan by about $5 per $1,000 of the roof cost. But it will allow the homeowner to pay for the roof over time instead of paying for it all upfront.
Don't Avoid the Reroof Discussion
It may seem that considering a new roof will complicate the process of making a solar system sale. The reality, however, is that if you make the sale without having this discussion, it may be discovered that a new roof is needed during the site survey. You’ll then need to go through the process with the homeowner at that point. Having the discussion up front may help the homeowner make the decision to move forward with solar because they love the idea of not having to pay for a reroof out of pocket.
The good news for you as the Solar Advisor and for the homeowner is that our company has a streamlined process in place for this purpose. If the homeowner knows the age of their roof and that replacement will be needed in the next 10 years or so, you can get them a quote within an hour and add the cost of the roof to your solar system proposal. We work with a national company that uses the same technology that we use to measure roofs via satellite. This allows them to produce roof quotes on any home in the U.S. quickly. To have the ability to get fast reroof quotes contact your Trainer or contact me directly and we’ll set you up to get these quotes.
Can the Homeowner Take Advantage of the Tax Credit for a Reroof?
As you know, through the Inflation Reduction Act passed into law in August of 2022, homeowners can take advantage of a federal tax credit of up to 30% when installing a solar system. Well, if we include the cost of the reroof in the financing for the solar system, can the homeowner then get the same 30% tax credit for the cost of the reroof?
We are not tax professionals or tax advisors. We strongly encourage Solar Advisors and homeowners to contact and consult with their own tax professionals. However, from our research, we’ve discovered that there are circumstances in which part of the roof replacement could qualify for a tax credit. However, in most cases, the answer is no. And we as Solar Advisors certainly should not advise the homeowner in any other way except to urge them to speak with their tax advisor.
But tax credit or not, installing a new roof with solar panels is a prudent move on the part of any homeowner that has an aging roof and wants to go solar. In most cases, the monthly payment for a solar system and a reroof may be just a nominal amount more than what they are paying their utility company now for electricity. Plus, they have locked in their monthly payment for the next 25 years and won’t be subject to increases in energy costs. Their home value will increase with both a solar system and a new roof. And it costs them nothing out of pocket. By helping a homeowner get a new roof with solar panels you have benefited them greatly.