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.The average Warwick homeowner needs a 4.1-kilowatt system, which would cost about $11,600 with the federal tax credit, or $16,588 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Warwick homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $20,000 on power bills over 20 years, many homeowners in Warwick find going solar has a decent ROI.
You can click the button below to get connected with a vetted solar company in Warwick for a quote for your home.
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
When going solar, many homeowners choose to go with a solar installer since overseeing your solar installation yourself can be a difficult project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Warwick
Factors that Affect Solar Panel Costs in Warwick
Even though the average cost of a solar system in Warwick is $11,600, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require 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 $4,070.The kind of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
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 opt to finance their solar panel systems to offset upfront costs.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating in Warwick, and each can charge different amounts for labor and equipment.The company’s size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion 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 | $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 a lot of companies available in Warwick, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Warwick, RI Solar Cost FAQs
How much does it cost to install solar panels in Warwick?
The average cost of solar panels in Warwick is about $20,350 for a 5-kW system and $40,700 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Warwick?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is it worth going solar in Warwick?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.