We at GAF Energy understand that buying a new roof with solar is an important financial decision for your family.
When installing a new roof, you want something that protects your home for years to come. By adding a GAF Energy solar system, you also turn your roof into a financial asset.
How Solar Can Save Money on Your Electric Bill
Our roof-integrated solar generates energy for your home. When your solar roof generates more energy than your home needs, that excess electricity goes back to the conventional utility grid and your utility credits you for it.
This is called net energy metering. Net metering gives homeowners the security of a consistent power source (vs. having a solar system that’s off-grid) while potentially lowering their monthly electricity bill.
Depending on your local net metering policies, you may see this credit monthly, quarterly or annually. Your local utility company can provide additional information about their specific policies.
State and Federal Home Solar Tax Credits and Incentives
In addition to net metering, there are additional financial benefits to buying a home solar system.
Thanks to the federal Investment Tax Credit, homeowners who have their roof-integrated solar system installed in 2020 may be eligible for a 26 percent credit against the taxes owed.
But don’t postpone your decision to buy a roof-integrated solar system. The ITC is scheduled to be reduced year-over-year, dropping to 20 percent in 2021 and 10 percent the following year.
In addition to the ITC, many state and local governments offer incentives for buying a home solar system.
The Database of State Incentives for Renewable Energy has a zip code search function to help you find solar incentives near you.
Additionally,GRID Alternatives is a nonprofit organization that helps people who meet certain income requirements go solar. You can easily find GRID programs on the DSIRE.
Or, if you live in California, if you research solar using this database, you’ll learn that the value of a newly installed solar system does not count when your property value is assessed for tax purposes.
If this seems like a lot of research to do, fear not. Along with your local roofing company, we’re here for you as you go through the solar roofing process.