A laminated roofing shingle has an overlay sheet having top surface and bottom surface opposite the top surface. The overlay sheet includes a headlap portion and a butt portion. The butt portion defines a series of tabs and cutouts. An underlay substrate has a top surface attached to the bottom surface of the butt portion of the overlay sheet. The underlay sheet includes a covered portion positioned beneath the tabs of the overlay sheet and a prime portion positioned beneath the cutouts. A layer of reflectivity-increasing granules and/or a layer reflectivity-increasing asphalt, is positioned on only one or both of the tabs of the overlay sheet and the prime portion of the underlay sheet.