Solar Panel Cost Guide in East Greenwich, RI (2024 Update)
- East Greenwich Solar Installation Cost: $11,600
- 25-Year Savings: $13,852
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in East Greenwich
We break down average solar pricing in East Greenwich.
The average cost of a solar panel system in East Greenwich is 4 per watt.Since a 4.1-kW system is needed to cover the energy needs of a typical home in East Greenwich, the average price of going solar will be about $11,600 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with.Despite the high initial cost, the average East Greenwich homeowner can save about $20,000 on their electricity bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar company in East Greenwich that can help you get a more accurate cost estimate for your home.
Solar savings over time in East Greenwich
| Year | Return on Investment |
|---|---|
| 1 years | $-10,069 |
| 3 years | $-7,007 |
| 5 years | $-3,945 |
| 7 years | $-883 |
| 9 years | $2,179 |
| 11 years | $5,241 |
| 13 years | $8,303 |
| 15 years | $11,365 |
| 17 years | $14,427 |
| 19 years | $17,489 |
| 21 years | $20,551 |
| 23 years | $23,614 |
| 25 years | $26,676 |
Top Solar Installers in East Greenwich
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar panel installer can make your swap to solar power much easier. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar company in East Greenwich, we've organized a list of our top suggestions here:
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 East Greenwich
Factors that Affect Solar Panel Costs in East Greenwich
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in East Greenwich: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,070.There are a lot of different solar panel brands and the one you choose also changes the cost. In general, 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 just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in East Greenwich to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in East Greenwich is the company you get to install your solar system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that offer a range of services at different price points.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $14,563 | 13.7 years |
| 8 kW | $4.15 | $23,248 | $19,873 | 13.5 years |
| 10 kW | $4.07 | $28,490 | $25,411 | 13.2 years |
| 12 kW | $3.99 | $33,504 | $31,177 | 12.9 years |
| 14 kW | $3.91 | $38,291 | $37,171 | 12.7 years |
| 16 kW | $3.83 | $42,849 | $43,393 | 12.4 years |
| 18 kW | $3.74 | $47,179 | $49,843 | 12.2 years |
| 20 kW | $3.66 | $51,282 | $56,520 | 11.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The brand of solar panel you’d like to get plays a role in which company you should opt for, since different companies have different panels.
- Warranty: If you care about the endurance of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
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 East Greenwich, RI Solar Cost FAQs
What is the average cost of installing solar panels in East Greenwich?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,350 for a 5-kW system and $40,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does East Greenwich have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 generally 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.