Solar Panel Cost Guide in East Greenwich, RI (Sep 2022)

  • East Greenwich Solar Installation Cost: $8,091
  • 25-Year Savings: $13,856
  • Payback Period: 9.2 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in East Greenwich

We go over average solar pricing in East Greenwich.

Currently, the national average cost of solar panels is $2.66 per watt. However, in East Greenwich, the average cost of a solar system is $3 per watt. Using this figure, a typical 4.1 would cost about $8,091 before the 30% federal solar tax credit is applied.

These figures are only estimates, and the cost of going solar for you may vary based on your energy needs and what company you want to go with. With typical savings of about $20,000 on energy bills over 20 years, many homeowners in East Greenwich find installing solar panels has a decent ROI.

For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in East Greenwich

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 East Greenwich

Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be a lot of work. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for your home.

Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:

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 East Greenwich

Factors that Affect Solar Panel Costs in East Greenwich

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

Solar Equipment Size

The size of the solar system you need for your household is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,840. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like East Greenwich, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in East Greenwich to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.

Solar Panel Installation Company

Lastly, the company you hire to install your solar panel system can impact how much it costs. East Greenwich's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.

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

Solar Incentives in East Greenwich

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

The solar installer you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:

  • 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 expectations you should have about the cost.
  • Solar Panel Brands: The type of solar panel you want to get plays a role in which company you should choose, since different companies provide different panels.
  • Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
  • Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

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 East Greenwich, RI Solar Cost FAQs

What is the average cost of installing solar panels in East Greenwich?

The average cost of solar panels in East Greenwich is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real 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.

Should I lease or buy solar panels in East Greenwich?

Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.

Is making the switch to solar worth it?

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 a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.

How long do solar panels last in East Greenwich?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.

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