Solar Panel Cost Guide in Woonsocket, RI (Feb 2023)
- Woonsocket Solar Installation Cost: $8,270
- 25-Year Savings: $14,910
- Payback Period: 8.9 Years
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Top Solar Installers in Woonsocket
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring an installer can make switching to solar power much easier. Another upside of going with a solar company is that they can help you optimize your return of investment by lowering your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
If you're on the hunt for a solar installer in Woonsocket, the EcoWatch team has organized a list of our top suggestions here:
See all of the solar companies in Woonsocket
Factors that Affect Solar Panel Costs in Woonsocket
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Woonsocket: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,840 per kilowatt in Woonsocket. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Woonsocket offer solar loans, which reduce your upfront costs of installing a solar system. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Woonsocket, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Woonsocket have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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||$21,005||9.3 years|
|8 kW||$2.90||$16,222||$28,324||9.1 years|
|10 kW||$2.84||$19,880||$35,803||8.9 years|
|12 kW||$2.78||$23,379||$43,441||8.7 years|
|14 kW||$2.73||$26,719||$51,237||8.6 years|
|16 kW||$2.67||$29,900||$59,193||8.4 years|
|18 kW||$2.61||$32,921||$67,308||8.2 years|
|20 kW||$2.56||$35,784||$75,582||8.0 years|
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar company you're considering has it.
EcoWatch's Woonsocket, RI Solar Cost FAQs
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.