Solar Panel Cost Guide in Newport, RI (Oct 2022)

  • Newport Solar Installation Cost: $7,813
  • 25-Year Savings: $14,134
  • Payback Period: 8.9 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Newport

Here's how much it might cost to switch to solar power in Newport.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Newport, the typical cost of a solar system is $3 per watt. Using this figure, a typical 3.9 would cost about $7,813 before the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of making the switch to solar can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what installation company you go with. Even with the large upfront cost, the average Newport homeowner can save about $21,000 on their electricity bills over 20 years, which is one of the positives of solar.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Newport

Year Return on Investment
1 years $-6,935
3 years $-5,179
5 years $-3,423
7 years $-1,668
9 years $88
11 years $1,844
13 years $3,599
15 years $5,355
17 years $7,111
19 years $8,867
21 years $10,622
23 years $12,378
25 years $14,134

Top Solar Installers in Newport

When making the switch to solar, many homeowners prefer to go with a solar installation company since overseeing your solar installation yourself can be a time-consuming project. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor too, which can save you more money after your initial investment.

There are various licensed solar professionals that can install solar panels for you. 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 Newport

Factors that Affect Solar Panel Costs in Newport

There are many criteria that can play into your solar system 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 size of the solar energy system you need is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,840. There are many different solar panel brands and the one you pick also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Newport homeowners decide to finance their solar panel systems to make paying for solar more affordable. 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 getting a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Newport, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower 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 $21,076 9.3 years
8 kW $2.90 $16,222 $28,419 9.1 years
10 kW $2.84 $19,880 $35,921 8.9 years
12 kW $2.78 $23,379 $43,583 8.7 years
14 kW $2.73 $26,719 $51,403 8.6 years
16 kW $2.67 $29,900 $59,383 8.4 years
18 kW $2.61 $32,921 $67,521 8.2 years
20 kW $2.56 $35,784 $75,819 8.0 years

Solar Incentives in Newport

Name Rhode Island C-PACE program
Incentive Amount
Website Visit here
More Info Click here

Name Renewable Energy Products Sales and Use Tax Exemption
Incentive Amount 100% exemption
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Equipment
Website Visit here
More Info Click here

Name Local Option - Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Small Scale Solar Grants (Commerce RI)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the kind of solar panels and the installation company you choose significantly influences your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Different companies will carry different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
  • Installation Process: When making the switch to solar energy, it's important to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the project completion timeline.
  • Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.

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 Newport, RI Solar Cost FAQs

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

The average cost of solar panels in Newport 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 like the kind of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Newport?

You can't get solar panels for free in Newport. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.

Is it worth going solar in Newport?

Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.

What solar power system size is right for 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 take a 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 get between 20 and 35 panels to cover 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.

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