Solar Panel Cost Guide in East Greenwich, NJ (2024 Update)
- East Greenwich Solar Installation Cost: $11,485
- 25-Year Savings: $12,112
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in East Greenwich
Here’s how much it might cost to install solar panels in East Greenwich.
While the national average of solar panels is $2.66 per watt, solar panels in East Greenwich typically cost about 4.To cover the typical energy needs of the average home in East Greenwich, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,485, or $16,424 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of East Greenwich homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $17,000 on utility bills over 20 years, many homeowners in East Greenwich find investing in solar has a decent ROI.
To get a free quote from a pre-vetted solar installation company in East Greenwich, you can click the button below.
Solar savings over time in East Greenwich
| Year | Return on Investment |
|---|---|
| 1 years | $-9,987 |
| 3 years | $-6,990 |
| 5 years | $-3,994 |
| 7 years | $-998 |
| 9 years | $1,999 |
| 11 years | $4,995 |
| 13 years | $7,992 |
| 15 years | $10,988 |
| 17 years | $13,984 |
| 19 years | $16,981 |
| 21 years | $19,977 |
| 23 years | $22,973 |
| 25 years | $25,970 |
Top Solar Installers in East Greenwich
When switching to solar energy, many homeowners decide to go with a solar company since handling can be a time-consuming project. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to make the switch to solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in East Greenwich
Factors that Affect Solar Panel Costs in East Greenwich
The cost of installing a solar system in East Greenwich can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like East Greenwich, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in East Greenwich offer solar loans, which reduce your upfront costs of installing solar.Although solar loans make going solar more accessible for East Greenwich homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you get to install your solar system can affect your pricing. East Greenwich’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.67 | $15,419 | $11,850 | 14.1 years |
| 8 kW | $3.60 | $20,163 | $16,195 | 13.9 years |
| 10 kW | $3.53 | $24,710 | $20,739 | 13.6 years |
| 12 kW | $3.46 | $29,059 | $25,479 | 13.3 years |
| 14 kW | $3.39 | $33,210 | $30,418 | 13.0 years |
| 16 kW | $3.32 | $37,164 | $35,554 | 12.8 years |
| 18 kW | $3.25 | $40,920 | $40,888 | 12.5 years |
| 20 kW | $3.18 | $44,478 | $46,419 | 12.2 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Contract: Before signing a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's East Greenwich, NJ Solar Cost FAQs
How much does it cost to install solar panels in East Greenwich?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in East Greenwich?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your property value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in East Greenwich?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.