Solar Panel Cost Guide in Cumberland Hill, RI (2024 Update)
- Cumberland Hill Solar Installation Cost: $11,860
- 25-Year Savings: $13,671
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Cumberland Hill
Let’s take a look at the average cost of solar in Cumberland Hill.
The average cost of a solar panel system in Cumberland Hill is 4 per watt.Because a 4.2-kW system is needed to cover the energy consumption of a typical home in Cumberland Hill, the average price of going solar will be about $11,860 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what solar installer you go with.With average savings of about $20,000 on electricity bills over 20 years, many homeowners in Cumberland Hill find investing in solar can be quite rewarding.
Click the button below to get connected to a reputable solar company in your area for a customized estimate.
Solar savings over time in Cumberland Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-10,329 |
| 3 years | $-7,267 |
| 5 years | $-4,205 |
| 7 years | $-1,143 |
| 9 years | $1,919 |
| 11 years | $4,981 |
| 13 years | $8,043 |
| 15 years | $11,105 |
| 17 years | $14,168 |
| 19 years | $17,230 |
| 21 years | $20,292 |
| 23 years | $23,354 |
| 25 years | $26,416 |
Top Solar Installers in Cumberland Hill
Although it's possible to install solar panels by yourself, it requires extra time and know-how. That's why the majority of homeowners choose to go with a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Cumberland Hill
Factors that Affect Solar Panel Costs in Cumberland Hill
The cost of installing a solar system in Cumberland Hill can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
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. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Cumberland Hill provide solar loans, which reduce the initial cost of installing solar panels.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Cumberland Hill is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services at different price points.The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to more 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 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 | $4.23 | $17,778 | $13,854 | 14.1 years |
| 8 kW | $4.15 | $23,248 | $18,928 | 13.8 years |
| 10 kW | $4.07 | $28,490 | $24,230 | 13.5 years |
| 12 kW | $3.99 | $33,504 | $29,760 | 13.2 years |
| 14 kW | $3.91 | $38,291 | $35,518 | 13.0 years |
| 16 kW | $3.83 | $42,849 | $41,503 | 12.7 years |
| 18 kW | $3.74 | $47,179 | $47,717 | 12.4 years |
| 20 kW | $3.66 | $51,282 | $54,159 | 12.2 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: The type of solar panel you want to get plays a part in which company you should opt for, since different companies provide different panels.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Cumberland Hill, RI Solar Cost FAQs
How much does it cost to install solar panels in Cumberland Hill?
The average cost of solar panels in Cumberland Hill is about $20,350 for a 5-kW system and $40,700 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Cumberland Hill?
Solar panels aren’t free in Cumberland Hill, 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 it worth going solar in Cumberland Hill?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Cumberland Hill?
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.