Solar Panel Cost Guide in Tiverton, RI (2023 Update)
- Tiverton 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 Tiverton
Find out what the average cost of solar panels are in Tiverton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Tiverton, the average cost of solar panels is 2.84 per watt. Using this figure, a typical 3.9-kW system would cost about $7,813 before the 30% federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Tiverton based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire. With average savings of about $21,000 on utility bills over 20 years, many homeowners in Tiverton find investing in solar has a decent ROI.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Tiverton
| Year | Return on Investment |
|---|---|
| 1 years | $-7,746 |
| 3 years | $-7,599 |
| 5 years | $-7,453 |
| 7 years | $-7,307 |
| 9 years | $-7,160 |
| 11 years | $-7,014 |
| 13 years | $-6,868 |
| 15 years | $-6,721 |
| 17 years | $-6,575 |
| 19 years | $-6,429 |
| 21 years | $-6,282 |
| 23 years | $-6,136 |
| 25 years | $-5,990 |
Top Solar Installers in Tiverton
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make converting to solar power much easier. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.
If you're searching for a solar company in Tiverton, the EcoWatch team has compiled a list of our top suggestions here:
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 Tiverton
Factors that Affect Solar Panel Costs in Tiverton
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Tiverton: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar equipment you choose can bring your price up or down 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. However, higher efficiency could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Tiverton average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Tiverton homeowners decide to finance their solar panel systems to offset upfront costs. Though solar loans make adopting solar energy more accessible for Tiverton homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installation company you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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
Since the kind of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, 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: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Tiverton, RI Solar Cost FAQs
What is the average cost of installing solar panels in Tiverton?
This is a hard question to answer exactly, because the cost depends on many 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Tiverton?
Most states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces 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 often do you have to replace solar panels?
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 the amount of energy they produce will have decreased significantly after that point. You can replace them after having 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.