Solar Panel Cost Guide in Valley Falls, RI (2023 Update)
- Valley Falls Solar Installation Cost: $8,270
- 25-Year Savings: $13,677
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Valley Falls
Let's take a look at the average cost of solar in Valley Falls.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Valley Falls, the average cost of a solar system is 2.84 per watt. Because a 4.2-kW system is needed to cover the energy needs of a typical home in Valley Falls, the average price of going solar will be about $8,270 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and how much solar costs for you will most likely look different based on your specific situation and what company you go with. Even with the large upfront cost, the average Valley Falls homeowner can save around $20,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Valley Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-7,392 |
| 3 years | $-5,636 |
| 5 years | $-3,881 |
| 7 years | $-2,125 |
| 9 years | $-369 |
| 11 years | $1,386 |
| 13 years | $3,142 |
| 15 years | $4,898 |
| 17 years | $6,654 |
| 19 years | $8,409 |
| 21 years | $10,165 |
| 23 years | $11,921 |
| 25 years | $13,677 |
Top Solar Installers in Valley Falls
Putting up solar panels on your own can be a difficult undertaking, which is why hiring a solar installer is a good option for many homeowners. A solar installer can also help save you money in the long run by providing warranties, repairs and component replacements.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Valley Falls
Factors that Affect Solar Panel Costs in Valley Falls
There are several factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,840. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Valley Falls, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Valley Falls have solar loans, which reduce the initial cost of installing solar. Though solar loans make adopting solar energy more accessible for Valley Falls homeowners, they can also increase 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 installer you choose will play a role in your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater 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 | $2.95 | $12,405 | $19,227 | 9.8 years |
| 8 kW | $2.90 | $16,222 | $25,954 | 9.6 years |
| 10 kW | $2.84 | $19,880 | $32,840 | 9.4 years |
| 12 kW | $2.78 | $23,379 | $39,885 | 9.2 years |
| 14 kW | $2.73 | $26,719 | $47,090 | 9.1 years |
| 16 kW | $2.67 | $29,900 | $54,453 | 8.9 years |
| 18 kW | $2.61 | $32,921 | $61,975 | 8.7 years |
| 20 kW | $2.56 | $35,784 | $69,657 | 8.5 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Valley Falls, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: If you're worried about the endurance of your solar energy system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you want a specific brand, make sure the solar company you're considering has it.
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 Valley Falls, RI Solar Cost FAQs
What is the average cost of installing solar panels in Valley Falls?
The average cost of solar panels in Valley Falls 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Valley Falls?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback 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 way to go if you want to maximize your savings.
Is it worth going solar in Valley Falls?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.