If you’re a solar power enthusiast, perhaps you’ve read about the solar roof system developed by a company called 3 IN 1 ROOF. It is expected to challenge the Tesla solar roof in the quest to become the market leader in building-integrated photovoltaic (BIVP) roof tiles for homes.
via 3 IN 1 ROOF
Insulation + Hurricane Protection + Solar = 3 IN 1 ROOF
More on the head-to-head with Tesla later. First, we explore 3 IN 1 ROOF cost and what exactly this innovative roofing system is all about.
Right off the bat: A typical 3,000 sq. ft. BiPV solar roof system from 3 IN 1 ROOF is estimated to cost $71,120 installed, before tax credits and energy savings are taken into account. This translates to roughly $24 per sq. ft. installed.
Once solar tax credits and energy savings are taken into account, you get the following financial breakdown:
3,000 s.f. roof: $71,120 before solar tax credit. First year cash flow: $18,142 with about $2,600 of that being from energy savings. That leaves a tax credit of about $16,540 on the solar part.
For smaller-sized roofs, 3 IN 1 ROOF supplied us with the current cost projections taking solar tax credits into account:
|Installed Cost||Avg. Cost Installed||Total Cost 2,000 Sq.Ft. Home|
|$18-$24 sq.ft.||$21 sq.ft.||$42,850 to $68,650|
The cost factors below the table will help you gauge where on the spectrum your costs will fall.
Note: This page from the US Department of Energy (US DOE) has complete information on the Residential Renewable Energy Tax Credit for 2018 through 2021.
Our best guess is that the tax credit will likely be extended due to the importance of promoting energy-efficient homes and buildings.
However, with the credits currently set to end in a few years, having a solar roof installed in the next couple of years rather than later could be a decision that saves you $20,000 or more.