Solar Panel Cost Guide in Narragansett, RI (Dec 2022)

  • Narragansett Solar Installation Cost: $7,853
  • 25-Year Savings: $14,094
  • Payback Period: 9.0 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated December 8, 2022

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Average Cost of Solar Panels in Narragansett

We go over average solar pricing in Narragansett.

In Narragansett, solar panels cost about $3 per watt on average. To cover the typical energy needs of the average home in Narragansett, most homeowners require a 4.0-kilowatt system. Using the figure above, a solar installation costs around $7,853, or $5,811 after the federal solar tax credit of 30% is applied.

How much you pay can be higher or lower than the average in Narragansett based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $21,000 over 20 years on energy bills.

To receive a free quote 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 $-6,975
3 years $-5,219
5 years $-3,463
7 years $-1,708
9 years $48
11 years $1,804
13 years $3,560
15 years $5,315
17 years $7,071
19 years $8,827
21 years $10,583
23 years $12,338
25 years $14,094

Top Solar Installers in Narragansett

Installing solar panels yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.

You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Narragansett:

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

Tesla Energy

★★★★★
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 Narragansett

Factors that Affect Solar Panel Costs in Narragansett

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

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production 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 model of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.

Solar Financing Terms

If paying for a solar system in cash is out of reach, solar loans are an affordable route because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. 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 can only 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 getting a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

A final consideration when trying to estimate the cost of solar for your home or business in Narragansett is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different price points. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.

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 choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:

  • Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before making your decision.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the 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

Tesla Energy

★★★★★
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 Narragansett, RI Solar Cost FAQs

How much does it cost to install solar panels in Narragansett?

The average cost of solar panels in Narragansett is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.

What other factors should I consider aside from cost when buying solar panels?

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Can solar panels eliminate my electricity bills?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,110.38 per year.

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.

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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