Solar Panel Cost Guide in South Kingstown, RI (2024 Update)
- South Kingstown Solar Installation Cost: $11,262
- 25-Year Savings: $14,088
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in South Kingstown
Here’s how much it might cost to install solar panels in South Kingstown.
The national average cost of solar panels is $2.66 per watt, but in South Kingstown it’s 4 per watt.The average South Kingstown homeowner needs a 4.0-kilowatt system, which would cost about $11,262 with the federal tax credit, or $16,105 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar panels you want, your solar contractor and more.Even with the significant initial cost, the average South Kingstown homeowner can save around $21,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a reputable solar installer in your area for a customized quote.
Solar savings over time in South Kingstown
| Year | Return on Investment |
|---|---|
| 1 years | $-9,731 |
| 3 years | $-6,669 |
| 5 years | $-3,607 |
| 7 years | $-545 |
| 9 years | $2,517 |
| 11 years | $5,579 |
| 13 years | $8,641 |
| 15 years | $11,703 |
| 17 years | $14,765 |
| 19 years | $17,827 |
| 21 years | $20,890 |
| 23 years | $23,952 |
| 25 years | $27,014 |
Top Solar Installers in South Kingstown
When going solar, many homeowners opt to hire a solar installer since installing solar panels yourself can be a difficult project. The payback period on a solar system will vary based on factors like your location and energy use, but going with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
If you're on the hunt for a solar company in South Kingstown, we've put together a list of our top suggestions here:
Best for Leasing
Sunrun
- 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 South Kingstown
Factors that Affect Solar Panel Costs in South Kingstown
While the average cost of a solar system in South Kingstown is $11,262, your final cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
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 electricity your household uses, the larger your system will likely need to be. You can expect to spend about $4,070 per kilowatt in South Kingstown.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your power bills. In addition, extra products, like solar batteries, can bring your total well above the South Kingstown average.
Solar Financing Terms
Most solar installers in South Kingstown provide solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of financing options, 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 finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you go with to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies in South Kingstown, and each can charge different amounts for labor and equipment.The company’s size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes 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 | $4.23 | $17,778 | $15,534 | 13.3 years |
| 8 kW | $4.15 | $23,248 | $21,167 | 13.1 years |
| 10 kW | $4.07 | $28,490 | $27,029 | 12.8 years |
| 12 kW | $3.99 | $33,504 | $33,119 | 12.6 years |
| 14 kW | $3.91 | $38,291 | $39,436 | 12.3 years |
| 16 kW | $3.83 | $42,849 | $45,982 | 12.1 years |
| 18 kW | $3.74 | $47,179 | $52,755 | 11.8 years |
| 20 kW | $3.66 | $51,282 | $59,756 | 11.5 years |
How to Save on Solar Panels
There are a large number of companies available in South Kingstown, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Warranty: If you’re worried about the endurance of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's South Kingstown, RI Solar Cost FAQs
How much does it cost to install solar panels in South Kingstown?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $20,350 for a 5-kW system and $40,700 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in South Kingstown?
Leasing solar panels can be an option if you can’t afford to 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 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.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.