Solar Panel Cost Guide in Cumberland, RI (Jul 2022)
- Cumberland Solar Installation Cost: $8,743
- 25-Year Savings: $13,204
- Payback Period: 10.0 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Cumberland
We break down average solar pricing in Cumberland.
Although the national average of solar panels is $2.66 per watt, solar panels in Cumberland typically cost about $3. 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 the cost of solar panels. The true cost of going solar can vary based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Cumberland can save about $20,000 on their power bills over 20 years.
Click the button below to get connected to a top solar installer in Cumberland for a custom quote.
Solar savings over time in Cumberland
| 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 Cumberland
Although it's possible to install solar panels by yourself, it involves extra energy and expertise. For that reason, most homeowners choose a solar panel installer. Another perk of going with a solar company is that they can help you make the most of your return of investment by reducing your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
There are various licensed solar professionals that can take care of your solar installation project. 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 Cumberland
Factors that Affect Solar Panel Costs in Cumberland
There are many criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment Size
The size of the solar panel system you need for your household is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,840. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Cumberland, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. Even though solar loans make adopting solar energy more accessible for Cumberland homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Cumberland, you'll have many options to choose from, but each comes at different price points for labor and equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that offers the products, warranties and services you're looking for and also is within your budget.
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 Cumberland
| 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
Since the kind of solar panels and the company you choose have an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although 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 be sure to ask for their list of options before making your decision.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
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 Cumberland, RI Solar Cost FAQs
How much does it cost to install solar panels in Cumberland?
This is a tough question to answer precisely, because the cost depends on a variety of 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Cumberland?
Solar panels aren't free in Cumberland, 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.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.
