Aging Shingles? A Costly Reason To Postpone Solar

If you are waiting to go solar until your roof needs replacing, it’s costing you more. When buying real estate, it’s not about timing the market, but rather time in the market and solar is no different. Like renting a home, your electric bill only goes up every year about 4-5%.  Below are considerations for any age roof with a standard 25-year warranty that does not show damage other than just normal weathering.

1-12 Year Old Shingle – Plenty of life left. If you still want to wait, you probably have another reason.

12-15 Year Old Shingle –As is stands today, the 30% Federal Solar Tax Credit expires Jan 1, 2033. A normal roof of this age will probably last past that date. Here are consequences of waiting beyond this date…..

  1. You are missing out on a tax credit that is worth much more than the cost of solar removal and reset, especially when your new roof can also qualify for the tax credit if processed correctly. (If you are confident that the tax credit will once again be extended, consider it’s original purpose -boosting the adoption of solar. That mission is already being accomplished because it is well understood that more solar will be installed in the next 2 years than in the last 40 years combined.  If the credit does get extended, it will most likely be around 10% and not the 30% we have now.)
  2. With inflation, a new roof and a new solar system will cost you more in the future.
  3. While you wait, you’re paying more for electricity every year. Over time, you’ll have paid thousands more to your power company when that money could have been used on solar.

The smarter play would be to simply extend the life of your shingles and go solar now. With the application of PEAK 301, you can easily and safely extend the life of your asphalt roof for a fraction of the cost of reroofing. This is a safe, quick and cost-effective way to add 6-8 years to the life of your shingles. Plus, it’s an all-natural, non-toxic and sustainable spray on liquid that restores not only the integrity of the shingle but also its color. Learn more at https://peak301.com/  If you live in central Virginia, contact Chris Parsnow for a site visit and quote at 434-207-2074 or Chris@FiveStarServices.us. The cost is minimal but you could bundle it in your solar financing or just finance it alone, therefore keeping more of your cash.

House getting roof cleaned and ready for solar

15-17 Year Old Roof –Here your choices are either reroof, apply Peak301 or wait another 10 years or so until you have to reroof. 

If you applied PEAK 301, went solar and got only 10 more years out of the shingles, that’s 10 years of not paying your power company.  How much is that?  The average home spends an average of  $175/month or $2100/year in electricity. In 10 years, that is $27,000 when you factor in a 5% annual rate increase. That is $27,000 that could have paid for your entire solar system especially when you factor in the tax credit.

Now, if you forego the PEAK301 treatment and decide to wait another 10 years to reroof and then go solar, you will have thrown away $27,000, then paid for solar and a new roof at prices 10 years from now.  Additionally, you’ll have missed the 30% Solar Federal Tax Credit which today can be applied to both your solar and new roof. Therefore, you’ll have paid about $80,000 more than what you would have if you got a new roof and went solar today.

17-22 Year Old Roof –At this age, you’ve got about 3-5 years left before you need to reshingle. Remember, the longer you’ve had solar the more beneficial it becomes. If 4 years ago your electric bill averaged $150/month, today, that cost is about $185/month. While you wait 4 more years to reroof and go solar, you will have lost about $10,000 more to your power company when you could have easily invested those funds in your home with solar with little to no change to your monthly budget.  

22-26 Year Old Roof –Most roofs of this age need replacing and it’s always safer to get a new roof before you have a costly problem. The process of scheduling install of a new roof and panels could take 3-4 months so best not to wait. DON’T make the mistake of reroofing and then going solar months later because the cost of the roof won’t qualify for the 30% Federal Solar Tax Credit. If you reach out to us, we’ll make sure your credit can be applied to both. Today’s shingles come with a 50 year warranty so if you get 40 years out of the new shingles, replacing the panels and roof will fall at the same time which is ideal.  

When you consider just the economics, you are better off finding a good price on a system and getting solar ASAP. No matter how old your roof is, we can help you determine the best course of action to keep more of your hard-earned money.

Email or Call us today with your questions or to set up a consultation.  434-249-1783

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