By Nadia Yonker on June 12th, 2020
Installing a new roof may be an expensive proposition for your customers, much less upgrading to one that is energy-efficient. However, roofing contractors can also leverage tax credits when offering roofing with the long-term benefits of energy-saving performance.
In 2005, the first energy efficiency tax credits were established to help incentivize homeowners to purchase these products. Tax credits are more valuable than deductions because they reduce taxes dollar-for-dollar, whereas deductions only apply a percentage to the overall tax liability.
Helping Homeowners Understand Their Investment
Before discussing tax credits, it is important to help homeowners understand the large part their home plays in their overall financial health. A U.S. Census Bureau survey found that approximately 35 percent of net worth by asset was attributed to home equity.
For most Americans, a home will be their largest purchase and their biggest investment. While kitchen and bath remodels can typically wait, postponing repairs and replacements on structural elements such as roofs may result in a negative impact on home value.
In fact, delaying or not replacing a roof that is significantly damaged or at the end of its life can be costly. Leaks may compromise structural integrity by causing joists to rot. Penetrating water can lead to mold growth that negatively impacts the health of residents. Moisture can also affect indoor air quality, as high humidity levels allow mold to grow on areas like ceilings. In addition to the potential health hazards, mold remediation is costly.
Performance Plus Aesthetics
Fortunately, homeowners taking advantage of the tax savings will not have to compromise when it comes to the appearance of their new roof. In the past, cool roofs were either white or a light color. In contrast, 90 percent of traditional roofs are dark-colored.
To get the best of both worlds, CertainTeed offers asphalt shingles in dark, rich hues. Homeowners can choose from an array of distinctive options from the Landmark SolarisĀ® and Presidential SolarisĀ® collections.
Roofing is an Investment, Not an Expense
Selling a new roof is never easy. Make sure to help customers understand that installing a cool roof will enable them to realize substantial energy savings, resulting in an investment in their home that will pay dividends for years to come.