Solar Panel Cost Guide in Coventry, RI (2023 Update)
- Coventry Solar Installation Cost: $8,091
- 25-Year Savings: $13,856
- Payback Period: 9.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Coventry
We break down average solar pricing in Coventry.
Although the national average of solar panels is $2.66 per watt, solar panels in Coventry generally cost around 2.84. The average solar panel system size in Coventry is around 4.1 kilowatts, meaning a cost of about $8,091 for a solar installation, or $11,570 before the 30% federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Coventry based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. With typical savings of about $20,000 on energy bills over 20 years, many homeowners in Coventry find going solar has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Coventry that can help you get a more accurate cost estimate for your home.
Solar savings over time in Coventry
| Year | Return on Investment |
|---|---|
| 1 years | $-7,213 |
| 3 years | $-5,458 |
| 5 years | $-3,702 |
| 7 years | $-1,946 |
| 9 years | $-190 |
| 11 years | $1,565 |
| 13 years | $3,321 |
| 15 years | $5,077 |
| 17 years | $6,833 |
| 19 years | $8,588 |
| 21 years | $10,344 |
| 23 years | $12,100 |
| 25 years | $13,856 |
Top Solar Installers in Coventry
Putting up solar panels yourself can be a stressful project, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be invaluable as well, especially if you don't quite know what kind of solar equipment would be right for your home.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Coventry
Factors that Affect Solar Panel Costs in Coventry
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Coventry: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,840 per kilowatt in Coventry. The model of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Coventry provide solar loans, which reduce the initial cost of installing solar. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Coventry, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $19,936 | 9.6 years |
| 8 kW | $2.90 | $16,222 | $26,899 | 9.4 years |
| 10 kW | $2.84 | $19,880 | $34,021 | 9.2 years |
| 12 kW | $2.78 | $23,379 | $41,303 | 9.0 years |
| 14 kW | $2.73 | $26,719 | $48,743 | 8.9 years |
| 16 kW | $2.67 | $29,900 | $56,342 | 8.7 years |
| 18 kW | $2.61 | $32,921 | $64,101 | 8.5 years |
| 20 kW | $2.56 | $35,784 | $72,018 | 8.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- 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 significant role in the company you choose.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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 Coventry, RI Solar Cost FAQs
How much does it cost to install solar panels in Coventry?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Coventry?
You can't get solar panels for free in Coventry. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Coventry is currently $244,049, which means you can look forward to a value of about $10,006 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Coventry is a worthwhile investment.
How long do solar panels last in Coventry?
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 larger 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.