Solar Panel Cost Guide in Providence, PA (2023 Update)
- Providence Solar Installation Cost: $11,731
- 25-Year Savings: $13,324
- Payback Period: 11.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Providence
Find out what the average cost of installing solar panels is in Providence.
The national average cost of solar panels is $2.66 per watt, but in Providence it's 2.55 per watt. To cover the typical energy needs of the average home in Providence, most homeowners require a 6.6-kilowatt system. Using the figure above, a solar installation costs about $11,727, or $16,770 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Providence homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $14,000 on electricity bills over 20 years, many homeowners in Providence find investing in solar can be quite rewarding.
To receive a free estimate from a vetted solar company in Providence, you can click the button below.
Solar savings over time in Providence
| Year | Return on Investment |
|---|---|
| 1 years | $-10,406 |
| 3 years | $-7,756 |
| 5 years | $-5,106 |
| 7 years | $-2,456 |
| 9 years | $195 |
| 11 years | $2,845 |
| 13 years | $5,495 |
| 15 years | $8,145 |
| 17 years | $10,795 |
| 19 years | $13,445 |
| 21 years | $16,095 |
| 23 years | $18,746 |
| 25 years | $21,396 |
Top Solar Installers in Providence
Although it's possible to install solar panels yourself, it takes extra energy and knowledge. That's why most people choose to hire a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
If you're searching for a solar company in Providence, we've organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Providence
Factors that Affect Solar Panel Costs in Providence
For many Providence homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Providence, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,550. The brand of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Providence to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Providence, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.65 | $11,138 | $11,736 | 12.2 years |
| 8 kW | $2.60 | $14,566 | $15,933 | 11.9 years |
| 10 kW | $2.55 | $17,850 | $20,274 | 11.7 years |
| 12 kW | $2.50 | $20,992 | $24,757 | 11.5 years |
| 14 kW | $2.45 | $23,990 | $29,383 | 11.2 years |
| 16 kW | $2.40 | $26,846 | $34,152 | 11.0 years |
| 18 kW | $2.35 | $29,560 | $39,063 | 10.8 years |
| 20 kW | $2.29 | $32,130 | $44,118 | 10.5 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Providence, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: The model of solar panel you want plays a role in which company you should choose, since different companies have access to different panels.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Providence, PA Solar Cost FAQs
How much does it cost to install solar panels in Providence?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $12,750 for a 5-kW system and $25,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Providence?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will solar panels impact my home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.