Installing rooftop solar panels can help homeowners reduce energy costs, with experts estimating that the average U.S. household saves around $1,500 annually on utility bills after adding this renewable energy infrastructure. Over the panel’s lifespan, these savings can total anywhere from $28,000 to $120,000, but having them can also make some home renovations more expensive.
Removing and reinstalling solar panels for roof repairs can cost up to $6,000, which amounts to spending around four years worth of savings from the panels. This additional expense delays the break-even point for the solar investment. Typically, a solar system takes around eight to 12 years to pay for itself, but this time period can in some cases be extended by 50% when factoring in the costs of getting those panels out of the way and then back onto the roof again.
The extent to which insurance may help with solar-related costs varies. Some policies will either cover or partially cover the expense of removing and reinstalling panels if the roof repair is due to covered events such as hail or wind damage. However, not all insurance policies include this coverage, and many homeowners who need a roof replacement due to age or normal wear may have to pay for these costs out-of-pocket.
To address these challenges, some solar companies are targeting homeowners who are already planning to replace their roofs. With approximately 5 million homes in the U.S. requiring a new roof each year, solar providers are partnering with contractors to offer combined packages that include both roof replacement and solar installation.
The average cost of a standalone solar installation is around $19,000, while a roof replacement typically costs $10,000, resulting in a total of about $29,000. By combining these services, homeowners can save an estimated $4,000, according to the National Renewable Energy Laboratory. As the adoption of rooftop solar is expected to double by the end of the decade, these integrated offerings could become more commonplace.
