Solar Panel Cost Guide in Bristol, RI (Mar 2023)
- Bristol Solar Installation Cost: $8,151
- 25-Year Savings: $13,796
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Bristol
Find out what the average cost of solar panels are in Bristol.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bristol, the typical cost of solar panels is 2.84 per watt. The average Bristol homeowner needs a 4.1-kilowatt system, which would cost about $8,151 with the federal tax credit, or $11,656 before the 30% tax credit is applied.
These figures are just estimates, and the cost of going solar for you may vary based on your energy needs and what company you want to go with. Even with the large upfront cost, the average Bristol homeowner can save around $20,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free quote from a highly rated solar installer in Bristol, you can click the button below.
Solar savings over time in Bristol
| Year | Return on Investment |
|---|---|
| 1 years | $-7,273 |
| 3 years | $-5,517 |
| 5 years | $-3,761 |
| 7 years | $-2,006 |
| 9 years | $-250 |
| 11 years | $1,506 |
| 13 years | $3,262 |
| 15 years | $5,017 |
| 17 years | $6,773 |
| 19 years | $8,529 |
| 21 years | $10,284 |
| 23 years | $12,040 |
| 25 years | $13,796 |
Top Solar Installers in Bristol
Many homeowners opt for a solar installation company since trying to install solar panels by yourself can be time-consuming. Companies can also provide access to quality options of the best solar panels and help you decide which one will be right for your family.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Bristol
Factors that Affect Solar Panel Costs in Bristol
For many Bristol homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Bristol, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. There are many different solar panel brands and the one you pick also changes the cost. In many cases, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Bristol offer solar loans, which reduce the initial cost of installing solar panels. Even though solar loans make going solar more accessible for Bristol homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies in Bristol, and each can charge different amounts for labor and equipment. The company's size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better 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 | $2.95 | $12,405 | $19,735 | 9.6 years |
| 8 kW | $2.90 | $16,222 | $26,631 | 9.5 years |
| 10 kW | $2.84 | $19,880 | $33,687 | 9.3 years |
| 12 kW | $2.78 | $23,379 | $40,901 | 9.1 years |
| 14 kW | $2.73 | $26,719 | $48,275 | 8.9 years |
| 16 kW | $2.67 | $29,900 | $55,807 | 8.7 years |
| 18 kW | $2.61 | $32,921 | $63,499 | 8.5 years |
| 20 kW | $2.56 | $35,784 | $71,349 | 8.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Bristol, RI Solar Cost FAQs
What is the average cost of installing solar panels in Bristol?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Bristol?
Solar panels aren't free in Bristol, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase how much your home is worth?
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% with a solar installation."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.