Solar Panel Cost Guide in South Kingstown, RI (Aug 2022)
- South Kingstown Solar Installation Cost: $8,301
- 25-Year Savings: $13,645
- Payback Period: 9.5 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in South Kingstown
Let's take a look at the average cost of solar in South Kingstown.
The average cost of solar panels in South Kingstown is $3 per watt. The average solar panel system size in South Kingstown is around 4.0 kilowatts, meaning a cost of about $8,301 for a solar installation, or $6,143 after the federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. Despite the high upfront cost, the average South Kingstown homeowner can save about $21,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a reputable solar panel company in your area for a custom estimate.
Solar savings over time in South Kingstown
| Year | Return on Investment |
|---|---|
| 1 years | $-7,423 |
| 3 years | $-5,668 |
| 5 years | $-3,912 |
| 7 years | $-2,156 |
| 9 years | $-400 |
| 11 years | $1,355 |
| 13 years | $3,111 |
| 15 years | $4,867 |
| 17 years | $6,622 |
| 19 years | $8,378 |
| 21 years | $10,134 |
| 23 years | $11,890 |
| 25 years | $13,645 |
Top Solar Installers in South Kingstown
Although it's possible to install solar panels yourself, it involves extra labor and know-how. That's why most homeowners choose to go with a solar panel installer. The payback period on an investment in solar panels will vary based on factors like your location and energy needs, but going with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Technology
The Green Panel
- 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 South Kingstown
Factors that Affect Solar Panel Costs in South Kingstown
There are a number of factors that can influence your total 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
When it comes to estimating the price of a solar panel system in South Kingstown, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $2,840 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the South Kingstown average.
Solar Financing Terms
Most solar companies in South Kingstown have solar loans, which reduce the initial cost of installing a solar system. 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 more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in South Kingstown is the company you choose to install your solar system. As with choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that provide a range of services at different price points. The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk 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 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 | $13,114 | $20,197 | 9.8 years |
| 8 kW | $2.90 | $17,149 | $27,266 | 9.7 years |
| 10 kW | $2.84 | $21,016 | $34,503 | 9.5 years |
| 12 kW | $2.78 | $24,715 | $41,908 | 9.3 years |
| 14 kW | $2.73 | $28,246 | $49,481 | 9.1 years |
| 16 kW | $2.67 | $31,608 | $57,223 | 8.9 years |
| 18 kW | $2.61 | $34,802 | $65,132 | 8.7 years |
| 20 kW | $2.56 | $37,829 | $73,209 | 8.5 years |
Solar Incentives in South Kingstown
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Rhode Island C-PACE program |
| Website | Visit here |
| More Info | Click here |
| Name | Renewable Energy Products Sales and Use Tax Exemption |
| Incentive Amount | 100% exemption |
| Incentive Max | None |
| Website | Visit here |
| More Info | Click here |
| Name | Small Scale Solar Grants (Commerce RI) |
| Incentive Amount | Solar PV Direct Ownership: $1.05/W Third Party Ownership: $0.70/W Solar Domestic Hot Water Heating Direct Ownership: 25% of project contract price Third Party Ownership: 10% of total contract price |
| Incentive Max | Solar PV Direct Ownership: $10,000 per project, $200,000 per application Third Party Ownership: $5,000 per project, $100,000 per application Solar Domestic Hot Water Heating Direct Ownership: $5,000 per project< br/>Third Party Ownership: $2,000 per project |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Property Tax Exemption for Renewable Energy Systems |
| Incentive Amount | Varies (local option) |
| More Info | Click here |
| Name | Property Tax Exemption for Renewable Energy Equipment |
| Incentive Amount | 100% exemption from property taxes |
| Website | Visit here |
| More Info | Click here |
| Name | Renewable Energy Growth Program |
| Incentive Amount | Incentives will vary depending on the type of resource, the size of the system, and the geographic load zone area of the installation. Solar is grouped into four categories based on size: Small scale solar projects: up to 25kW Medium scale solar projects: 25kW to 250 kW Commercial scale solar projects: 250 kW to 1 MW Large scale solar projects: 1 MW to 5 MW Wind is grouped into two categories based on size: Medium: 1.5 MW- 3 MW Large: 3 MW- 5 MW Anaerobic Digestion Medium: 150 kW- 500 kW Large: 501 kW- 1,000 kW Small Scale Hydropower Small: 10kW - 250 kW Medium: 251 kW- 1,000 kW |
| Incentive Max | Varies with system size, technology and geographic load zone. |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose greatly affect 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: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Reputation: Long-standing companies 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 quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
Best Technology
The Green Panel
- 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 South Kingstown, RI Solar Cost FAQs
How much does it cost to install solar panels in South Kingstown?
The average cost of solar panels in South Kingstown 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in South Kingstown?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in South Kingstown?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in South Kingstown?
On average, solar panels can last 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 larger amount 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.
