A lot of people think that quality solar roofing is more of a luxury than a necessity. Let’s face it, solar roofing is a significant monetary investment for any home or business owner. But if you are one of the many who have shrugged it off as something unaffordable, it may be time to consider solar roofing again. Over the past decade, the cost of installation for solar roofing has actually dropped by as much as 70%. And as the technology to make solar roofing becomes cheaper, prices will only go down further.
That said, it does still cost a lot of money to get a solar roof installation. But the long-term savings make it way worth it as opposed to paying electricity bills per month. And with retail electricity prices rising due to the price hike on natural gas and fossil fuels, exploring opportunities to save money will help you in the long run.
Still on the fence about solar roofing?
Here are some of the reasons why quality solar roofing is a worthy investment:
1. Reduction of electricity costs
The most apparent benefit of a solar roofing investment is the reduction and even the total elimination of your electric bill. Quality solar roofing can produce and even exceed the energy needed by your home or commercial building. Your utility company may even give you credit for excess energy that goes back to the grid. In addition, being self-sufficient in producing your electricity needs makes you immune to price hikes and electricity shortages, adding yet another layer of savings to your energy costs. If you belong to an industry with plenty of cash flow issues, these savings can let you fund growth opportunities.
2. Return on investment
Quality solar roofing installation also boasts a hefty return on your investment. In fact, it will start paying for itself the moment you install it. Just one upfront payment for the installation and you’ll be good to go. Plus, you can get even more value on your investment as time goes by since fuel and electricity prices go up.
3. Government benefits
Because using solar energy is good for the environment, the government encourages homeowners and business owners to adopt solar energy through several benefits. These are usually financial incentives and tax breaks. You can get a solar tax credit from the federal government equal to 30% of the cost of solar roofing installation. Each individual state may also provide incentives to solar roofing adopters.
4. Environmental benefits
There’s no doubt about the reality of climate change and how the production of electricity contributes to global warming. Electricity production actually generates a 27.5% share of greenhouse gas emissions, the second-largest share in 2017. Investing in solar roofing means reducing your carbon footprint and helping save the environment. That alone makes quality solar roofing a worthy investment.
Getting solar roofing installed in your home or commercial building requires significant financial investment. But the benefits not just to your wallet but also to the environment make it well worth the price.
About the Author:
Patrick Hogan is the CEO of Handle.com, where they build software that helps contractors, subcontractors, and material suppliers with late payments. Handle.com also provides funding for construction businesses in the form of invoice factoring, material supply trade credit, and mechanics lien purchasing.