Solar Panel Cost Guide in Foster, RI (2024 Update)

  • Foster Solar Installation Cost: $11,860
  • 25-Year Savings: $13,671
  • Payback Period: 13.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Foster

Find out how much it might cost to switch to solar power in Foster.

The national average cost of solar panels is $2.66 per watt, but in Foster it’s 4 per watt.Using this figure, a typical 4.2-kW system would cost about $11,860 before the 0 federal solar tax credit is applied.

How much you pay can go higher or lower than the average in Foster depending on a few factors, such as the brand of solar panels you choose and the solar company you hire.But, once you've paid the upfront cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $20,000 over 20 years on power bills.

Click the button below to get connected to a reputable solar panel company in your area for a personalized estimate.

Solar savings over time in Foster

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 Foster

Installing solar panels yourself can be a stressful undertaking, which is why using a solar installer is a good option for many homeowners. The expertise that solar companies offer can be useful as well, particularly if you aren’t sure what kind of solar equipment you need.

If you're on the hunt for a solar installer in Foster, we've compiled a list of our top suggestions here:

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 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 Foster

Factors that Affect Solar Panel Costs in Foster

The cost of installing a solar system in Foster can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $4,070 per kilowatt in Foster.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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. Additionally, extra products, such as solar batteries, can bump up your total well above the Foster average.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Foster homeowners opt to finance their solar panel systems to make paying for solar more affordable.Though solar loans make going solar more accessible for Foster homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Finally, the company you hire to install your solar panel system can affect the cost. Foster’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and better 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

Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
  • Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
  • Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
  • Installation Process: When making the switch to solar power, it’s essential to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project timeline.

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 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Foster, RI Solar Cost FAQs

What is the average cost of installing solar panels in Foster?

The average cost of solar panels in Foster is about $20,350 for a 5-kW system and $40,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Foster?

Solar panels aren’t free in Foster, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Do solar panels increase your property value?

Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.

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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