If you’re thinking of selling your home soon it’s important to make sure your roof has plenty of years of life left in it—otherwise, you may find yourself having to offer your buyer a hefty credit to replace it.
Why not minimize that potential burden by installing a new roof with solar? Both improvements will add significant value that could fetch you a better selling price for your home, especially in California where studies show solar adds an average premium of about $4 per watt installed to a home’s value.
A Lawrence Berkeley National Laboratory study that analyzed 22,000 home sales in eight states found that in California this amounted to an average increase of $20,000 to the home’s selling price. ($4 x 5,000W for the average system size).
Whether you’re upgrading your home with an eye toward listing it, or simply protecting what matters most in your home for years to come, installing roof-integrated solar is an investment that may make sense.
In addition to the increased value of a new roof, homeowners who go solar in 2020 may be eligible for a 26 percent federal tax credit as well as possible additional local rebates and incentives. But don’t wait long; this federal Investment Tax Credit will decrease to 22 percent in 2021, which is currently slated as the last year this credit will be available to homeowners. Plus, you may be eligible for local solar rebates and incentives as well depending on where you live. You can search by ZIP Code for local renewable energy discounts in the Database of State Incentives for Renewables & Efficiency.
And, of course, your GAF Energy solar system can save you money on your electricity bill. Whether you plan to sell or remain in your home for a while, installing solar in California can help increase its value.
- Based on Lawrence Berkeley National Laboratory’s 2015 study: “Selling into the Sun: Price Premium Analysis of a Multi-State Dataset of PV Homes,” which found that solar adds an average of $4 per watt to the value of a home in California. Increases in the value of a home will vary and are not guaranteed. ↩
- This material is for informational purposes only and is not intended to provide tax, legal or accounting advice. You should consult with your tax, legal and accounting advisors to confirm your eligibility for a federal solar tax credit, the amount of the credit and qualifying expenses based on your individual circumstances. ↩
- Visit www.dsireusa.org for a list of rebates and incentives available in your state. ↩
- Savings will vary and are not guaranteed. ↩