Solar Panel Cost Guide in Greenville, RI (2023 Update)
- Greenville Solar Installation Cost: $8,276
- 25-Year Savings: $13,671
- Payback Period: 9.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Greenville
Let's have a look at the average cost of solar panels in Greenville.
The average cost of solar panels in Greenville is 2.84 per watt. The average solar panel system size in Greenville is around 4.2 kilowatts, meaning a cost of about $8,270 for a solar installation, or $11,826 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of equipment you choose, your solar contractor and more. Despite the significant initial cost, the average Greenville homeowner can save around $20,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar company in Greenville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Greenville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,203 |
| 3 years | $-8,056 |
| 5 years | $-7,910 |
| 7 years | $-7,764 |
| 9 years | $-7,617 |
| 11 years | $-7,471 |
| 13 years | $-7,325 |
| 15 years | $-7,178 |
| 17 years | $-7,032 |
| 19 years | $-6,886 |
| 21 years | $-6,739 |
| 23 years | $-6,593 |
| 25 years | $-6,447 |
Top Solar Installers in Greenville
When switching to solar energy, many homeowners decide to go with a solar installer since handling can be a time-consuming project. Companies can also offer access to quality options of the best solar panels and help you decide which one will be best for your family.
If you'd like to switch to solar energy but still aren't sure which solar company to go with, here are our recommendations for providers in Greenville:
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 Greenville
Factors that Affect Solar Panel Costs in Greenville
For many Greenville homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Greenville, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need 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. On the other hand, 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 Greenville average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Greenville homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your overall costs, so it's crucial to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Greenville, you'll have many options to choose from, but each comes at various price points for labor and equipment. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk 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 discount 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 | $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 |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- 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.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
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 Greenville, RI Solar Cost FAQs
How much does it cost to install solar panels in Greenville?
The average cost of solar panels in Greenville 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Greenville?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 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 account for 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.