Solar Panel Cost Guide in Narragansett Pier, RI (Nov 2022)

  • Narragansett Pier 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 11/09/2022

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Average Cost of Solar Panels in Narragansett Pier

We go over average solar pricing in Narragansett Pier.

In Narragansett Pier, solar panels cost about $3 per watt on average. Using this figure, a typical 4.0 would cost about $7,853 before the 30% federal solar tax credit is applied.

These figures are just estimates, and your own solar costs will most likely look different based on your energy needs and what company you choose to go with. Despite the significant initial cost, the average Narragansett Pier homeowner can save about $21,000 on their electricity bills over 20 years, which is one of the advantages of solar.

Click the button below to get connected to a vetted solar company in Narragansett Pier for a personalized quote.

Solar savings over time in Narragansett Pier

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 Pier

Many homeowners opt for a solar panel installer since trying to put up solar panels yourself can be a lot of work. The expertise that solar installers provide can be useful as well, particularly if you aren't sure what type of solar equipment you need.

There are various licensed solar professionals that can help you install your solar panels. 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

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 Pier

Factors that Affect Solar Panel Costs in Narragansett Pier

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Narragansett Pier: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size. Solar power systems that have better efficiency or power production 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. There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Narragansett Pier, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. Though solar loans make going solar more accessible for Narragansett Pier homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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 remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Narragansett Pier, you'll have many options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Narragansett Pier are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 $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 company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:

  • Contract: Review the contract terms carefully to make sure you understand how much it will cost, project timeline incentives and warranties.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
  • Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

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 Pier, RI Solar Cost FAQs

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

The average cost of solar panels in Narragansett Pier 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 certain factors like the type of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Narragansett Pier?

Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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 bang for your buck from going solar.

Can you sell solar power back to the grid in Narragansett Pier?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.

How often do you have to replace solar panels?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to 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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