That would probably create an extremely dazzling effect on people trying to navigate the roads and even sidewalks. Think "snow blindness" and all of the gear and techniques people have had to develop to travel in sunny and snowy locales.
But, putting it on roofs would probably be a good idea. And, as I posted elsewhere, putting roofs over big parking areas with solar cells on them could provide cooler parking areas, the ability to charge parked cars during office time or shopping visits, and left-over energy to power the offices and shopping malls, at least during the days (and when there isn't much snow on the solar panels). Unfortunately, solar panels are designed to not reflect light, so about 75-to-80% of the solar energy hitting them would be released as heat. But the rest of the roof areas could be coated in this paint.