Solar Panel Cost Guide in Woonsocket, RI (2023 Update)
- Woonsocket Solar Installation Cost: $8,270
- 25-Year Savings: $14,910
- Payback Period: 8.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Woonsocket
Find out what the average cost of solar panel installation is in Woonsocket.
The average cost of a solar system in Woonsocket is 2.84 per watt. Using this figure, a typical 4.2-kW system would cost about $8,270 before the 30% federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you will most likely vary based on your energy needs and what company you choose to go with. For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Woonsocket see about $21,000 in savings on utility bills over 20 years.
To receive a free estimate from a top solar installer in Woonsocket, you can click the button below.
Solar savings over time in Woonsocket
| Year | Return on Investment |
|---|---|
| 1 years | $-7,343 |
| 3 years | $-5,488 |
| 5 years | $-3,634 |
| 7 years | $-1,780 |
| 9 years | $75 |
| 11 years | $1,929 |
| 13 years | $3,784 |
| 15 years | $5,638 |
| 17 years | $7,492 |
| 19 years | $9,347 |
| 21 years | $11,201 |
| 23 years | $13,056 |
| 25 years | $14,910 |
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:
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 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.
Solar Equipment
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.
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 Woonsocket, RI Solar Cost FAQs
What is the average cost of installing solar panels in Woonsocket?
The average cost of solar panels in Woonsocket is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Woonsocket?
Solar panels aren't free in Woonsocket, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Woonsocket have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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 get between 20 and 35 panels to cover 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.