Solar Panel Cost Guide in Greenville, RI (Sep 2022)

  • Greenville Solar Installation Cost: $8,270
  • 25-Year Savings: $13,677
  • Payback Period: 9.4 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

Why you can trust EcoWatch

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 Greenville

See how much it might cost to switch to solar power in Greenville.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Greenville, the average cost of a solar system is $3 per watt. Since a 4.2-kW system is needed to cover the energy costs of a typical home in Greenville, the average price of going solar will be about $8,270 before claiming the federal solar tax credit of 30%.

Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar panels you want, your solar contractor and more. With average savings of about $20,000 on energy bills over 20 years, many homeowners in Greenville find investing in solar can pay off big.

Click the button below to get connected to a reputable solar panel company in Greenville for a personalized quote.

Solar savings over time in Greenville

Year Return on Investment
1 years $-7,392
3 years $-5,636
5 years $-3,881
7 years $-2,125
9 years $-369
11 years $1,386
13 years $3,142
15 years $4,898
17 years $6,654
19 years $8,409
21 years $10,165
23 years $11,921
25 years $13,677

Top Solar Installers in Greenville

When switching to solar energy, many homeowners choose to use a solar installation company since putting up solar panels yourself can be a difficult project. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.

There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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 Greenville

Factors that Affect Solar Panel Costs in Greenville

There are many criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size. Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,840. The solar equipment you choose can increase or decrease your cost 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 over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Greenville average.

Solar Financing Terms

Many homeowners find the average cost of solar in Greenville to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. Even though solar loans make switching to solar energy more accessible for Greenville homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar installer you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Greenville, and each can charge different amounts for labor and equipment. Additionally, some companies in Greenville 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 $19,227 9.8 years
8 kW $2.90 $16,222 $25,954 9.6 years
10 kW $2.84 $19,880 $32,840 9.4 years
12 kW $2.78 $23,379 $39,885 9.2 years
14 kW $2.73 $26,719 $47,090 9.1 years
16 kW $2.67 $29,900 $54,453 8.9 years
18 kW $2.61 $32,921 $61,975 8.7 years
20 kW $2.56 $35,784 $69,657 8.5 years

Solar Incentives in Greenville

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

There are numerous companies to choose from in Greenville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:

  • Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two 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 good reviews from past customers.
  • Contract: Before you sign a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion 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 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 Greenville, RI Solar Cost FAQs

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

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 be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Is it better to lease or buy solar panels in Greenville?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Is it worth going solar in Greenville?

Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.

How many solar panels do I need to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us