Solar Panel Cost Guide in Tiverton, RI (2023 Update)
- Tiverton 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 Tiverton
Let's take a look at the average cost of solar panels in Tiverton.
Although the national average of solar panels is $2.66 per watt, solar panels in Tiverton typically cost about 2.84. 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 cost of your system can go higher or lower than the average in Tiverton based on several factors, such as the model of solar panels you choose and the solar installer you hire. With average savings of about $21,000 on energy bills over 20 years, many homeowners in Tiverton find investing in solar has a decent ROI.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized quote.
Solar savings over time in Tiverton
| 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 Tiverton
Although it's possible to install solar panels on your own, it involves extra energy and expertise. Because of that, almost all homeowners choose to go with a solar panel installer. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
Working with a licensed solar installer can help your solar project go smoothly. 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 Tiverton
Factors that Affect Solar Panel Costs in Tiverton
While the average cost of a solar system in Tiverton is $7,813, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,840. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. While solar loans make going solar more accessible for Tiverton homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you pick will influence your total cost to make the switch to solar power. 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 offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 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 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.