Solar Panel Cost Guide in Portsmouth, RI (2023 Update)
- Portsmouth Solar Installation Cost: $7,819
- 25-Year Savings: $14,128
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Portsmouth
Find out what the average cost of solar panels are in Portsmouth.
In Portsmouth, solar panels cost about 2.84 per watt on average. To cover the typical energy usage of the average home in Portsmouth, most homeowners require a 3.9-kilowatt system. Using the figure above, a solar installation costs about $7,813, or $11,173 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what company you go with. But, once you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $21,000 over 20 years on electricity bills.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Portsmouth
| Year | Return on Investment |
|---|---|
| 1 years | $-6,288 |
| 3 years | $-3,226 |
| 5 years | $-164 |
| 7 years | $2,898 |
| 9 years | $5,960 |
| 11 years | $9,023 |
| 13 years | $12,085 |
| 15 years | $15,147 |
| 17 years | $18,209 |
| 19 years | $21,271 |
| 21 years | $24,333 |
| 23 years | $27,395 |
| 25 years | $30,457 |
Top Solar Installers in Portsmouth
Many homeowners opt for a solar panel company since figuring out how to install solar panels yourself can be a labor-intensive endeavor. The expertise that solar companies offer can be valuable as well, especially if you don't quite know what kind of solar equipment you need.
If you'd like to start using solar energy but still aren't sure which solar panel installer to go with, here are our recommendations for providers nearby:
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 Portsmouth
Factors that Affect Solar Panel Costs in Portsmouth
The cost of installing a solar system in Portsmouth can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,840 per kilowatt in Portsmouth. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Portsmouth, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Portsmouth homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also adds to your total costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you go with to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies in Portsmouth, and each can charge varying amounts for labor and equipment. Additionally, some companies in Portsmouth are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $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 |
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 picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different costs 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 operating for many years most likely offer high-quality solar panel installation and expertise.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the completion timeline.
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 Portsmouth, RI Solar Cost FAQs
How much does it cost to install solar panels in Portsmouth?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Portsmouth?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 financial benefits from going solar.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $1,116.03 per year.
How long do solar panels last in Portsmouth?
Even 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 decide 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.