Solar Panel Cost Guide in Warwick, RI (2024 Update)
- Warwick Solar Installation Cost: $11,600
- 25-Year Savings: $13,852
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Warwick
We break down average solar pricing in Warwick.
Although the national average of solar panels is $2.66 per watt, solar panels in Warwick typically cost around 4.Using this figure, a typical 4.1-kW system would cost about $11,600 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely vary based on the amount of energy your home requires and what company you want to go with.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Warwick see about $20,000 in savings on electricity bills over 20 years.
To get a free estimate from a top solar company in Warwick, you can click the button below.
Solar savings over time in Warwick
| Year | Return on Investment |
|---|---|
| 1 years | $-10,069 |
| 3 years | $-7,007 |
| 5 years | $-3,945 |
| 7 years | $-883 |
| 9 years | $2,179 |
| 11 years | $5,241 |
| 13 years | $8,303 |
| 15 years | $11,365 |
| 17 years | $14,427 |
| 19 years | $17,489 |
| 21 years | $20,551 |
| 23 years | $23,614 |
| 25 years | $26,676 |
Top Solar Installers in Warwick
Although you can install solar panels by yourself, it involves extra labor and expertise. That's why most 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.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Warwick
Factors that Affect Solar Panel Costs in Warwick
The cost of installing a solar system in Warwick can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Warwick homeowners choose to finance their solar panel systems to offset upfront costs.Although solar loans make adopting solar energy more accessible for Warwick homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you get to install your solar system can play a part in determining the cost. Warwick’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that offers the products, warranties and services you want and also is within your budget.
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 | $14,563 | 13.7 years |
| 8 kW | $4.15 | $23,248 | $19,873 | 13.5 years |
| 10 kW | $4.07 | $28,490 | $25,411 | 13.2 years |
| 12 kW | $3.99 | $33,504 | $31,177 | 12.9 years |
| 14 kW | $3.91 | $38,291 | $37,171 | 12.7 years |
| 16 kW | $3.83 | $42,849 | $43,393 | 12.4 years |
| 18 kW | $3.74 | $47,179 | $49,843 | 12.2 years |
| 20 kW | $3.66 | $51,282 | $56,520 | 11.9 years |
How to Save on Solar Panels
There are numerous companies to choose from in Warwick, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Warwick, RI Solar Cost FAQs
How much does it cost to install solar panels in Warwick?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Warwick?
Leasing solar panels can be an attractive choice, as 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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 home 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.