Solar Panel Cost Guide in East Greenwich, RI (2023 Update)
- East Greenwich Solar Installation Cost: $8,091
- 25-Year Savings: $13,856
- Payback Period: 9.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in East Greenwich
We go over average solar pricing in East Greenwich.
The average cost of a solar panel system in East Greenwich is 2.84 per watt. The average solar panel system size in East Greenwich is around 4.1 kilowatts, meaning a cost of about $8,091 for a solar installation, or $11,570 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of East Greenwich homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find installing a solar system is a solid investment. The average homeowner in East Greenwich can save about $20,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar company in East Greenwich for a custom quote.
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
Although you can install solar panels by yourself, it requires extra effort and handiness. Because of that, most people choose a solar panel installer. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
If you'd like to make the switch to solar but still aren't certain which solar company to go with, here are our suggestions for providers near you:
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 typically one of the most important factors for homeowners who are 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 cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in East Greenwich, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $2,840 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like East Greenwich, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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 too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. You'll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in East Greenwich, and each can charge varying amounts for labor and equipment. Additionally, some companies in East Greenwich know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has 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:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Contract: Before signing a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: The brand of solar panel you want plays a part in which installer you should go with, since different companies have access to different panels.
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
How much does it cost to install solar panels in East Greenwich?
This is a tough question to answer precisely, because the cost depends on a few different 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. It will be more expensive 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 choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in East Greenwich?
Leasing solar panels can be an attractive choice, because it commonly 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 option if you want to get the most savings.
Is it worth going solar in East Greenwich?
Whether or not solar panels are worth it depends on some different factors like local electricity rates 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 should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt 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.