Solar Panel Cost Guide in Exeter, RI (2023 Update)
- Exeter Solar Installation Cost: $7,859
- 25-Year Savings: $14,088
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Exeter
We break down average solar pricing in Exeter.
Although the national average of solar panels is $2.66 per watt, solar panels in Exeter generally cost around 2.84. Since a 4.0-kW system is needed to cover the energy consumption of a typical home in Exeter, the average price of going solar will be about $7,853 after claiming the federal solar tax credit of 30%.
These figures are just averages, and how much solar costs for you may differ based on your specific situation and what company you want to go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Exeter can save around $21,000 on their electricity bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Exeter
| Year | Return on Investment |
|---|---|
| 1 years | $-6,328 |
| 3 years | $-3,265 |
| 5 years | $-203 |
| 7 years | $2,859 |
| 9 years | $5,921 |
| 11 years | $8,983 |
| 13 years | $12,045 |
| 15 years | $15,107 |
| 17 years | $18,169 |
| 19 years | $21,231 |
| 21 years | $24,293 |
| 23 years | $27,355 |
| 25 years | $30,417 |
Top Solar Installers in Exeter
Although you can install solar panels yourself, it involves extra time and expertise. That's why most people choose a solar panel installer. The expertise that solar companies provide can be invaluable as well, particularly if you don't quite know what type of solar equipment would be right for your home.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Exeter
Factors that Affect Solar Panel Costs in Exeter
While the average cost of a solar system in Exeter is $7,853, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. In addition, extra products, such as solar batteries, can bump up your total well above the Exeter average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the total 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 original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — 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 decide on the company that provides the products, warranties and services you want and also fit into 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 | $12,405 | $20,906 | 9.3 years |
| 8 kW | $2.90 | $16,222 | $28,193 | 9.1 years |
| 10 kW | $2.84 | $19,880 | $35,639 | 9.0 years |
| 12 kW | $2.78 | $23,379 | $43,244 | 8.8 years |
| 14 kW | $2.73 | $26,719 | $51,008 | 8.6 years |
| 16 kW | $2.67 | $29,900 | $58,931 | 8.4 years |
| 18 kW | $2.61 | $32,921 | $67,013 | 8.2 years |
| 20 kW | $2.56 | $35,784 | $75,254 | 8.1 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Solar Panel Brands: Different companies will have different brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
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 Exeter, RI Solar Cost FAQs
How much does it cost to install solar panels in Exeter?
This is a difficult question to answer exactly, 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Exeter?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback 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 maximize your savings.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Exeter is currently $373,922, which means you can look forward to a value of about $15,331 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Exeter is a worthwhile investment.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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.