Solar Panel Cost Guide in Narragansett, RI (2024 Update)
- Narragansett Solar Installation Cost: $11,262
- 25-Year Savings: $14,088
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Narragansett
Here’s how much it might cost to install solar panels in Narragansett.
The average cost of a solar system in Narragansett is 4 per watt.The average Narragansett homeowner needs a 4.0-kilowatt system, which would cost about $11,262 with the federal tax credit, or $16,105 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Narragansett homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Narragansett can save around $21,000 on their power bills over 20 years.
To get a free estimate from a vetted solar installation company in Narragansett, you can click the button below.
Solar savings over time in Narragansett
| Year | Return on Investment |
|---|---|
| 1 years | $-9,731 |
| 3 years | $-6,669 |
| 5 years | $-3,607 |
| 7 years | $-545 |
| 9 years | $2,517 |
| 11 years | $5,579 |
| 13 years | $8,641 |
| 15 years | $11,703 |
| 17 years | $14,765 |
| 19 years | $17,827 |
| 21 years | $20,890 |
| 23 years | $23,952 |
| 25 years | $27,014 |
Top Solar Installers in Narragansett
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make switching to solar power much easier. Also, if you’d like to maximize your investment in solar energy, going with a solar company can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
If you’d like to start using solar energy but still aren’t certain which solar system company to go with, here are our recommendations for providers near you:
Best for Leasing
Sunrun
- 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 Narragansett
Factors that Affect Solar Panel Costs in Narragansett
Though the average cost of a solar system in Narragansett is $11,262, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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 energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Narragansett average.
Solar Financing Terms
Many homeowners find the average cost of solar in Narragansett to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time because of 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 securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Narragansett is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for instance, you’ll have no shortage of solar installers that provide a range of services at different costs.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 cost more. It’s best to do some research and go with 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 | $4.23 | $17,778 | $15,534 | 13.3 years |
| 8 kW | $4.15 | $23,248 | $21,167 | 13.1 years |
| 10 kW | $4.07 | $28,490 | $27,029 | 12.8 years |
| 12 kW | $3.99 | $33,504 | $33,119 | 12.6 years |
| 14 kW | $3.91 | $38,291 | $39,436 | 12.3 years |
| 16 kW | $3.83 | $42,849 | $45,982 | 12.1 years |
| 18 kW | $3.74 | $47,179 | $52,755 | 11.8 years |
| 20 kW | $3.66 | $51,282 | $59,756 | 11.5 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 durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Narragansett, RI Solar Cost FAQs
What is the average cost of installing solar panels in Narragansett?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $20,350 for a 5-kW system and $40,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Narragansett?
Solar panels aren’t free in Narragansett, 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 you can take advantage of.
Is it worth going solar in Narragansett?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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.