Solar Panel Cost Guide in Cranston, RI (Aug 2022)

  • Cranston Solar Installation Cost: $8,743
  • 25-Year Savings: $13,204
  • Payback Period: 10.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Cranston

Here's how much it might cost to go solar in Cranston.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Cranston, the typical cost of solar panels is $3 per watt. Using this figure, a typical 4.2 would cost about $8,743 before the federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $20,000 over 20 years on power bills.

You can click the button below to get connected with a top solar installer in Cranston that can help you get a more accurate cost estimate for your home.

Solar savings over time in Cranston

Year Return on Investment
1 years $-7,865
3 years $-6,109
5 years $-4,353
7 years $-2,598
9 years $-842
11 years $914
13 years $2,670
15 years $4,425
17 years $6,181
19 years $7,937
21 years $9,693
23 years $11,448
25 years $13,204

Top Solar Installers in Cranston

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make going solar much easier. Plus, if you aren't sure what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.

If you'd like to switch to solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

The Green Panel

★★★★★
4.5

  • 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

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Cranston

Factors that Affect Solar Panel Costs in Cranston

The cost of installing a solar system in Cranston can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment Size

The size of the system you need is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Cranston, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.

Solar Panel Installation Company

The solar panel installer you pick will affect your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 $13,114 $18,518 10.4 years
8 kW $2.90 $17,149 $25,027 10.2 years
10 kW $2.84 $21,016 $31,704 10.0 years
12 kW $2.78 $24,715 $38,550 9.8 years
14 kW $2.73 $28,246 $45,563 9.6 years
16 kW $2.67 $31,608 $52,744 9.4 years
18 kW $2.61 $34,802 $60,094 9.2 years
20 kW $2.56 $37,829 $67,612 9.0 years

Solar Incentives in Cranston

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Rhode Island C-PACE program
Website Visit here
More Info Click here

Name Renewable Energy Products Sales and Use Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
Website Visit here
More Info Click here

Name Small Scale Solar Grants (Commerce RI)
Incentive Amount Solar PV
Direct Ownership: $1.05/W
Third Party Ownership: $0.70/W
Solar Domestic Hot Water Heating
Direct Ownership: 25% of project contract price
Third Party Ownership: 10% of total contract price
Incentive Max Solar PV
Direct Ownership: $10,000 per project, $200,000 per application
Third Party Ownership: $5,000 per project, $100,000 per application
Solar Domestic Hot Water Heating
Direct Ownership: $5,000 per project< br/>Third Party Ownership: $2,000 per project
Website Visit here
More Info Click here

Name Local Option - Property Tax Exemption for Renewable Energy Systems
Incentive Amount Varies (local option)
More Info Click here

Name Property Tax Exemption for Renewable Energy Equipment
Incentive Amount 100% exemption from property taxes
Website Visit here
More Info Click here

Name Renewable Energy Growth Program
Incentive Amount Incentives will vary depending on the type of resource, the size of the system, and the geographic load zone area of the installation.

Solar is grouped into four categories based on size:
Small scale solar projects: up to 25kW
Medium scale solar projects: 25kW to 250 kW
Commercial scale solar projects: 250 kW to 1 MW
Large scale solar projects: 1 MW to 5 MW

Wind is grouped into two categories based on size:
Medium: 1.5 MW- 3 MW
Large: 3 MW- 5 MW

Anaerobic Digestion
Medium: 150 kW- 500 kW
Large: 501 kW- 1,000 kW

Small Scale Hydropower
Small: 10kW - 250 kW
Medium: 251 kW- 1,000 kW

Incentive Max Varies with system size, technology and geographic load zone.
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Installation Process: When making the switch to solar power, it's essential to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project timeline.
  • Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
  • Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
  • Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

The Green Panel

★★★★★
4.5

  • 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

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Cranston, RI Solar Cost FAQs

What is the average cost of installing solar panels in Cranston?

The average cost of solar panels in Cranston 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 such as the type of solar panels you want, what size system you need and how much energy you consume.

Can you get solar panels for free in Cranston?

A solar panel system isn't free in Cranston, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

How will having solar panels impact the value of my home?

Solar panels can increase your home value significantly as long as you buy or finance your panels and don't go 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."

How many solar panels do I need to power my home?

To figure out how many solar panels you need, you should find out how much energy your home needs 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 household 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.

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