Do Homes With Solar Sell Faster
Yes, homes with solar sell faster. Many new homeowners are eco-conscious people who know that a solar roof increases the value of the property without an increase in property taxes. Furthermore, the freedom of having no or very low power bills is attractive to many. If you are thinking about installing solar panels on your existing roof before selling, this may be a good option, as every kW of solar capacity installed on your roof increases your property value by around $6,000.
Interlocking Solar Panel Roofing
In response to the ever-increasing prices of solar roofs, GAF and Suntegra introduced interlocking solar panel roofing. This kind of roofing helps you avoid the solar shingle cost and all the additional work accompanying solar shingles. A system like this is easy to install, competitive in price, and it makes a good compromise in an aesthetic sense, especially between regularly mounted solar panels and an interlocking, integrated system.
How We Did The Math
To get there, we pulled together ballpark pricing for the various roofing materials Teslas solar shingles mimic, from sources like the Slate Roofing Contractors Association, the Tile Roofing Institute, and the Remodeling 2016 Cost vs. Value Report.
There are plenty of variables, of course, including the location of the home and shape and height of the roof. But heres what the installed costs look like for the roughly 3,000 square feet of roofing needed to cover an average size home in the U.S.
Clay Tile: $16,000Asphalt: $20,000Slate: $45,000
So how could a $73,500 roof be considered cost-competitive with a $20,000 asphalt roof? To compensate for the proposed added value of the free electricity from Teslas roof, we added in $2,000 a year, over the lifespan of the roof. Thats a typical electric bill in states where solar is big, like California, Texas, and North Carolina.
Tesla says the life expectancy of its tiles will be 30 years. So that adds $60,000 to the value of the roof.
One final factor: the Tesla Solar Roof will work like any rooftop solar system, connecting to your homes electric panel through an inverter. You could stop there, but the system is being packaged alongside Teslas forthcoming Powerwall 2.0, a battery storage device with a built-in inverter and an installed cost of $6,500. Combining Solar Roof and Powerwall 2.0, Musk promises, will power an entire home with 100 percent renewable energy.
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Tesla Solar Roof Cost Vs Solar Panels Cost
Teslas solar panels are premium products, in line with other top-tier manufacturers like LG and Sunpower. Their panels command higher prices than standard-quality offerings, but they are also more efficient and have much better warranties.
If youre in the market for a premium solar panel, the Tesla solar panel is a great option. Its backed up with Panasonics incredible technology and likely has a good, long-term warranty.
The panels themselves will likely be 1.5x to 2x more expensive than standard-quality panels, but the rest of the installation costs like installation and other equipment should remain fairly similar to any other traditional solar installation.
And installing Teslas traditional solar panels is certainly cheaper than their solar tiles, which are hard to justify in any situation. If youre needing a new roof anyway or are building a new home, Teslas solar shingles make much more sense, but itll still be cheaper to simply install normal asphalt shingles and a traditional solar installation.
Beyond the aesthetics, the next selling point for Teslas solar shingles is the simplicity of the system. You dont need to buy a new roof and solar panels, theyre integrated into each other. As such, if we want to compare costs, we cant just compare the cost of Teslas solar shingles to installing solar only, but the cost of installing a new roof as well.
- Tesla Solar Roof Cost: $38,220
- Solar Panels + Asphalt Shingles Cost: $23,020
Should You Wait For The Tesla Solar Roof
Standard solar panel technologies are typically evaluated based on their performance, durability, and warranties. However, Teslas lack of transparency makes it difficult to compare to traditional solar panels. Four years after the initial launch of Teslas solar roof, the company still hasnt revealed the shingles efficiency and customers are still experiencing long wait times and surprise price increases.
If youre in dire need of a roof upgrade or if you wont need a roof upgrade for a while, the Tesla Solar Roof may not be worth your long wait. Solar panels are extremely dependable . However, if you need to upgrade your roof soon and your roof isnt too complex or large, you may be a good candidate for the Tesla Solar Roof. Additionally, if youre set on the look and have the capital to cover the cost, the system may be the best choice for you, though it may be worth your while to compare the Tesla Solar Roof to other solar roof products.
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Tesla Has Some Serious Competition
Earlier this month, Tesla started taking the first $1,000 deposits for its much-heralded solar roofs sleek and fashionable roof tiles that double as solar panels. The marketing was so good that Tesla is already sold out on solar roof tiles until well into 2018, according to Electrek. But Tesla isnt the only company in this business. A newcomer called Forward Labs promises to deliver much of the same energy output at Tesla at almost half the cost and installation time.
Find out how much a solar roof can save you in your area
While Teslas roof will set you back about $22/square foot , a Forward Labs roof comes in at less than $12 per square foot for the sections that include PV and $8.50 per square foot of the non-PV areas. These were designed by a team led by Zach Taylor, who comes from a constructions background particularly on the composition and installation of roofing systems. According to Taylor, his company designed solar roofs to be as inexpensive as possible by using standard construction materials which are easy to install and replace.
Whereas Teslas solar roof is made from individual shingles, Forward Labs metal roof is made up of one large, layered piece which itself consists of five layers:
Right now, 8 colors are available but given the chromatic layer, any color is technically possible. Installation takes only a couple of days or half as much as Tesla, according to Taylor.
Does Tesla Operate In My State How Do I Order
The best way to find out if you’re in Tesla’s service area is to go to the company’s site to enter your address for an estimate. Tesla reportedly has expanded its service area for Solar Roof to the entire United States, though some addresses still say unavailable when you request an estimate. In other areas, Tesla will refer you to the website or contact information of a certified, third-party installer that services your area.
To order through Tesla, create an account online. Tesla then uses satellite imagery of your roof to design a system and price estimate, which will be finalized when an Tesla agent visits your home to confirm the roof complexity, size and a few other details.
Obstructions in your roof can raise the cost of a Solar Roof.
After you and Tesla agree on a design, it will pull permits and put you on the schedule to install. Tesla uses certified third-party installers, though it also has some in-house teams.
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Efficiency Of The Tesla Solar Roof
One factor to consider when making a cost comparison between installing new solar panels and installing a new Tesla Solar Roof is efficiency. Tesla has not released data on the efficiency of its solar shingles, but EnergySage estimates that typical solar shingle brands range from 14 to 18 percent efficiency, whereas most solar panels are 22 to 23 percent efficient. Its important to keep this in mind when deciding if the Tesla Solar Roof is worth it for you because your overall return on investment will likely be lower than if you install new solar panels.
How Tesla Will Reinvent The Solar Tiles
One of the biggest issues that many homeowners have had with the solar industry is that panels dont look good. It serves as somewhat of an eyesore looking at these things. You have a lot of people who believe that solar panels look visually unappealing. Up until now, most solar companies didnt try to address this concern. However, Tesla has stated that they will make an effort to bring this more into the mainstream by improving the aesthetic appeal of the solar panels. Eliminating aesthetic concerns will be a huge leap forward for the solar industry and will likely advance residential solar efforts. Power roofing will continue to progress. Tesla helped to save the novelty and usefulness of the electric car. Like the electric vehicle, they have made further moves into solar panels, which will be another key victory for the company. If they can make them successful, that is. The biggest obstacles come down to the heavy price tag.
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Increase In Home Value And Homes Sell Faster
A new solar system is similar to a home renovation because a solar panel system can increase its overall market value. A solar energy system is the best home improvement renovation because it is the only one guaranteed to pay you back. If you saw two identical homes, one with solar and one without. Wouldnt you pay more for the home that costs less to maintain every month?
Based on past data, homes with solar power can be sold for 3% more than homes without. This increase in home value applies to both solar shingles and solar panels. Besides, when analyzing previous home sales, the data has shown that homes with solar energy systems sell faster than others. When getting solar roof tiles, not only can you benefit directly from the solar energy system, but it will improve your home valuation as well.
Tesla Solar Roof Cost Vs Solar Panels
Heres the big question: Teslas solar roof cost vs solar panels. When compared to conventional panels, do Teslas shingles still make sense?
Right off the bat, lets say this: Teslas tiles are more expensive than normal solar panels. That makes sense as its really two products in one: roofing and solar.
Lets dig into the numbers a bit: and compare costs for the average US home, which now clocks in at 2,700 square feet in size:
- Tesla Solar Shingles: At $21.85 per square foot, youd shell out $58,995
- New Shingles + Conventional Solar Panels: $9,180 for asphalt shingles and $11,970 for a 5.7kW solar installation , for a total of $21,150.
As you can see, Teslas solar shingles really dont make financial sense. Even if you install a giant solar installation upwards of a whopping 10 to 12 kW with conventional solar panels, youre still better off financially. With Teslas solar shingles, youre spending a lot more money for the same end result: a new roof and a solar installation that helps you save money.
Of course, things can and will change. Prices will certainly decrease as more and more homeowners install Teslas solar tiles. Teslas already done it with their Powerwall 2, which packs quite a punch at a surprisingly low price.
Considering that youre getting both solar panels and a very durable roof when you purchase Teslas solar tiles, it seems like theyre on course to be a game changer in the roofing industry and solar industry.
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Who Should Buy A Solar Roof
The initial appeal of the Tesla Solar Roof will target the wealthy, tech-savvy homeowner with a passion for renewable energy. Due to the solar roof cost, the purchaser of a solar roof will have a deep passion for aesthetics.
There is certainly a risk-reward aspect of being one of the first owners of a Tesla Solar Roof. The reward is obviously being able to be one of the first owners of this beautiful technology. The risk is the same. Being the owner of the first version of anything comes with the risk of having to be patient while kinks are worked out.
If you want to be an owner of the Tesla Solar Roof you will need a large amount of expendable cash and an even larger amount of patience as it could take years for the solar roofs to get installed.
Solar Installation Experience: Overview
Step 1: Order online
On its website, Tesla Solar says it will recommend the right system size for your needs based on your electricity usage and your address.
Step 2: Virtual home assessment
As part of Teslas solar panel installation process, homeowners send in photos of their equipment and system spaces rather than having a crew come out to inspect these areas before installation . Then, Tesla Solar representatives will create a solar design for your home, while you remain part of the process. The exact nature of the installation chosen for your home will be customized based on your rooftop, power needs, geography, budget and more.
Step 3: Installation
Tesla Solar states on its website that most solar installations are finished the same day, and you only need to be at your house for the first hour. After installation is complete, Tesla will work with your local building department to schedule an inspection. For systems that come with a Powerwall for energy storage, Tesla will work with your utility company to receive permission to operate your system.
Step 4: Power on
Once youre given the thumbs up, youre set to power on your Tesla energy products. Whats cool about Tesla is that you can monitor your solar systems energy production through the Tesla app, so you can monitor your energy usage, know exactly how much energy youre generating, and ultimately stay on top of how cost-effective your panels are.
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How Much Does It Cost To Install Solar Panels
Several factors play into how much the cost of your solar panel installation will be. These factors include your homes size, where you live, what manufacturer you use, and how many kilowatts you need/use. Plus, there are tax credits and things that can play into saving you money on the large upfront cost, but well get to those.
A standard mid-sized system will be around 6kW, and after the federal solar tax credit, homeowners can expect to spend an average of around $14,940 upfront. This is based on the national average cost of watts, which is $2.49 as of January 2021 . Again, this is a ballpark estimate and can change based on the manufacturer and location.
Whats New With The Tesla Solar Roof In 2021
At the end of October 2019, Tesla launched the Solar Roof V3, the latest iteration of the solar roof tiles. Unlike its predecessors, the new Tesla solar roof product comes in one style and consists of fewer parts.
Elon Musk was confident that the rollout of the new solar tiles would be the best version yet. The company planned to ramp up production at their Gigafactory in Buffalo, New York, and partner with local installers to help deploy more solar roofs than they had in the past.
A little over a year later, Musk wound up eating his words, admitting that the company had made significant mistakes with their solar roof project in Teslas Q1 2021 call.
Things started to turn sour for the solar roof in March 2021, when Tesla updated its solar roof pricing, making it even more expensive than before. They kept the cost per watt of solar the same, but the cost of the inactive tiles went up and now varied based on the complexity of a homeowners roof.
Then, just a month later, Tesla increased solar roof prices yet again. The real kicker is that Tesla didnt just up their pricing for new solar roof orders: people who already signed contracts with Tesla saw their installation prices increase, as well.
In some cases, the new prices were 30% higher than the prices in their original contract! And the contract pricing issue wasnt remedied until September 2021, a whole five months later, and only after a class action lawsuit was filed against the company.
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Whats The Latest News On The Tesla Solar Roof Tiles
Tesla has now installed solar roofs across the country, though the exact number of installations is unclear. The product has been gaining popularity among some consumers, leading to long installation wait times for customers who sign contracts. In April 2021, many of these customers were shocked when they received emails from Tesla quoting higher costs than their contract prices. The lack of explanation and transparency caused confusion and frustration among consumers, especially if they could no longer afford the hefty price tag.
During Teslas quarterly earnings call in April 2021, Elon Musk affirmed that demand remains strong for the Tesla Solar Roof, despite the price increases. He did concede that Tesla basically made some significant mistakes in assessing the difficulty of certain roofs. Tesla added roof complexity information to its website and a roof complexity disclaimer to its Solar Roof calculator however, Tesla notes that your roof complexity wont be determined until after you place an order for a Solar Roof. Tesla divides the complexity into three categoriessimple, intermediate, and complexbased on the following criteria:
- Simple: single-level roof, uncrowded mounting planes, few obstructions , low pitch
- Intermediate: multi-level roof , more crowded mounting plane, more obstructions , higher pitch
- Complex: multi-level roof , heavily crowded mounting plane, many obstructions , steep pitch