Solar Panel Cost Guide in Portsmouth, RI (Mar 2023)
- Portsmouth Solar Installation Cost: $7,813
- 25-Year Savings: $14,134
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Portsmouth
Find out how much it might cost to go solar in Portsmouth.
Although the national average of solar panels is $2.66 per watt, solar panels in Portsmouth generally cost about 2.84. To account for 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 around $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 actual cost of going solar can vary depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Portsmouth can save about $21,000 on their electricity bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Portsmouth
| 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 Portsmouth
Trying to put up solar panels on your own can be a dangerous task, which is why using a solar installer is a good option for many homeowners. The expertise that solar companies offer can be helpful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
Best Technology
Tesla Energy
- 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
See all of the solar companies in Portsmouth
Factors that Affect Solar Panel Costs in Portsmouth
For many Portsmouth homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Portsmouth, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. There are many different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Portsmouth have solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also adds to your overall costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Portsmouth, you'll have many options to choose from, but each comes at different price points for labor and equipment. The company's size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access 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 discount can bring their pricing down 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 |
How to Save on Solar Panels
The solar panel company you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Solar Panel Brands: The brand of solar panel you need to get plays a role in which installer you should choose, since different companies have different panels.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: When going solar, it's essential to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project timeline.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project timeline incentives and warranties.
Best Technology
Tesla Energy
- 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
EcoWatch's Portsmouth, RI Solar Cost FAQs
What is the average cost of installing solar panels in Portsmouth?
The average cost of solar panels in Portsmouth 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 stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Portsmouth?
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 don't have access to 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 financial benefits from going solar.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. 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 often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.