The clean energy economy is booming—and with good reason. A solar panel array is a clean energy form that can pay for itself in 3 to 3.5 years, with all kinds of tax benefits and refunds to make it that much more appealing to homeowners to consider installing solar panels.
It’s no wonder that 2 million homeowners have already chosen solar panels to power their homes, with another 2 million expected by 2024.
But there’s no denying that solar panels are a significant investment—one that you’d like to recoup quickly. Depending on your geographic location, the size and energy needs of your home, and the pitch of your roof, a new solar panel array costs an average of $10,085 to $28,000.
So how can you maximize your return on this investment? In what ways do solar panels add value to your home, and how can you make the most of this value?
Solar Panels Shield Your Roof from Intense Weather Conditions
Your roof has been designed to withstand the elements, but most roofs still incur damage over time from exposure to the elements. Solar panels serve as a physical barrier between your roof and harsh weather, keeping it protected. These panels mitigate the risks from ultraviolet (UV) rays from the sun, as well as the harm that rain, hail, strong winds, and other severe weather can do to your roof.
In fact, your solar panels provide exceptional added economic value besides just lower energy bills. Solar panels can help you avoid roof repair costs. High-quality solar panels are strong.
Many solar panels can stand up to winds of 150 miles per hour or more as well as hail that’s as large as 2 inches in diameter. Some solar panels are even rated to survive wind speeds of as high as 245 miles per hour. When placed on your roof, these solar panels act as a shield, protecting your roof and your shingles from the damaging effects of intense weather.
Increased Energy Savings
In 2018, Americans spend $1.3 trillion on energy, which amounts to 6.2 percent of the total Gross Domestic Product for the entire country, or about $3,891 per person.
Just how much money can you save by installing solar panels? The average cost of installing solar panels depends on the number of panels and the size of your home and roof. Over the lifespan of your solar panels, you’ll pay far less in energy bills.
Just how much will you save? California is a great example. The average cost of solar panel installation in California is somewhere in the range of $13,054. Over 20 years’ time, it’s estimated that solar panels can save California homeowners a potential $39,277, or nearly $2,000 per year.
Tax Savings and Other Financial Incentives
Currently, the U.S. government offers homeowners significant incentives to install solar panels as an energy source. Through the end of 2021, homeowners can take advantage of a residential federal tax credit for 26 percent of the installation costs for solar panels through 2022, and 22 percent through the end of 2023.
Some states offer additional incentives like cash back, property tax exemption, and waived fees. In some locations, homeowners can even sell excess power from their solar panels back to their local utility companies.
Solar panels can also boost your home’s resale value. Homebuyers understand the savings potential of buying a home with solar panels, especially since the system is already in place and they didn’t have to make that initial investment themselves. Research shows that most homeowners see a $5,911 resale value per installed kilowatt. For a 3 kilowatt system, your home’s resale value can increase by almost $18,000.
Save Even More: Preserve Your Roof
Are you looking to further increase your return on investment (ROI)? Roof Maxx can extend the life of your roof by 5 years per application. Using a plant-based biofuel, we’ll revive your shingles and restore their flexibility at a fraction of the cost of a new roof; around 15 to 20 percent. If a new roof is estimated to cost you $10,000, a Roof Maxx application will likely cost somewhere around $1,500.
It’s a safe, easy, reliable, and affordable alternative to paying for a new roof right away, giving you a few more years before you need a new roof. New roofs can cost tens of thousands of dollars, and paying to remove and reinstall your solar panels to repair or replace your roof can cost several more thousand dollars.
Why not maximize the lifespan of your roof—and your investment—with a proven system that will preserve your roof for several more years? It’s like getting a few more miles per gallon in your favorite car.
An average solar installation can save you tens of thousands of dollars over the life of your panels. You can avoid high re-roofing costs and maximize your ROI with Roof Maxx for a sturdy, reliable roof that’s been treated to last. Learn more about how to ext
