Solar Panel Cost Guide in Charlestown, RI (2023 Update)
- Charlestown Solar Installation Cost: $7,853
- 25-Year Savings: $14,094
- Payback Period: 9.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Charlestown
We go over average solar pricing in Charlestown.
The national average cost of solar panels is $2.66 per watt, but in Charlestown it's 2.84 per watt. To cover the typical energy needs of the average home in Charlestown, most homeowners require a 4.0-kilowatt system. Using the figure above, a solar installation costs about $7,853, or $11,230 before the federal solar tax credit of 30% is applied.
How much you pay can be higher or lower than the average in Charlestown based on several factors, such as the brand of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $21,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Charlestown
| Year | Return on Investment |
|---|---|
| 1 years | $-6,975 |
| 3 years | $-5,219 |
| 5 years | $-3,463 |
| 7 years | $-1,708 |
| 9 years | $48 |
| 11 years | $1,804 |
| 13 years | $3,560 |
| 15 years | $5,315 |
| 17 years | $7,071 |
| 19 years | $8,827 |
| 21 years | $10,583 |
| 23 years | $12,338 |
| 25 years | $14,094 |
Top Solar Installers in Charlestown
Although you can install solar panels by yourself, it involves extra energy and handiness. For that reason, almost all homeowners choose to hire a solar panel installer. Companies can also have access to quality options of the best solar panels and help you pick which one will be right for your home.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Charlestown
Factors that Affect Solar Panel Costs in Charlestown
The cost of installing a solar system in Charlestown can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your home, 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 nearly $2,840. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Charlestown average.
Solar Financing Terms
Many homeowners find the average cost of solar in Charlestown to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. However, the interest on solar loans also increases your all-in costs, so it's vital to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you pick will influence your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. The company's size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of 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 lower to compete with bigger companies.
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 | $20,906 | 9.3 years |
| 8 kW | $2.90 | $16,222 | $28,193 | 9.1 years |
| 10 kW | $2.84 | $19,880 | $35,639 | 9.0 years |
| 12 kW | $2.78 | $23,379 | $43,244 | 8.8 years |
| 14 kW | $2.73 | $26,719 | $51,008 | 8.6 years |
| 16 kW | $2.67 | $29,900 | $58,931 | 8.4 years |
| 18 kW | $2.61 | $32,921 | $67,013 | 8.2 years |
| 20 kW | $2.56 | $35,784 | $75,254 | 8.1 years |
How to Save on Solar Panels
The solar installer you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Charlestown, RI Solar Cost FAQs
How much does it cost to install solar panels in Charlestown?
The average cost of solar panels in Charlestown is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Charlestown?
Leasing solar panels can be an appealing choice, as it usually 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Charlestown is currently $338,749, so you can look forward to a value of about $13,889 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Charlestown is a rewarding investment.
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.