Solar Panel Cost Guide in Woonsocket, RI (2024 Update)
- Woonsocket Solar Installation Cost: $11,860
- 25-Year Savings: $14,904
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Woonsocket
Here’s how much it might cost to go solar in Woonsocket.
The national average cost of solar panels is $2.66 per watt, but in Woonsocket it’s 4 per watt.The average Woonsocket homeowner needs a 4.2-kilowatt system, which would cost about $11,860 with the federal tax credit, or $16,960 before the 0 tax credit is applied.
How much you pay can go higher or lower than the average in Woonsocket based on several factors, such as the kind of solar panels you choose and the solar contractor you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $21,000 over 20 years on power bills.
To get a free estimate from a top solar company in Woonsocket, you can click the button below.
Solar savings over time in Woonsocket
| Year | Return on Investment |
|---|---|
| 1 years | $-10,249 |
| 3 years | $-7,026 |
| 5 years | $-3,803 |
| 7 years | $-581 |
| 9 years | $2,642 |
| 11 years | $5,865 |
| 13 years | $9,087 |
| 15 years | $12,310 |
| 17 years | $15,533 |
| 19 years | $18,755 |
| 21 years | $21,978 |
| 23 years | $25,201 |
| 25 years | $28,423 |
Top Solar Installers in Woonsocket
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make your switch to solar power much easier. Some solar companies, particularly local ones, can help you better understand incentives in Woonsocket, thereby optimizing your ROI.
There are a number of licensed solar professionals that can install solar panels for you. 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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Woonsocket
Factors that Affect Solar Panel Costs in Woonsocket
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Woonsocket: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover 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 power your household consumes, the larger your system will likely need to be. You can expect to spend about $4,070 per kilowatt in Woonsocket.The brand and kind of equipment you get for your solar system can raise or lower 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Woonsocket, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can impact your pricing. Woonsocket’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $15,632 | 13.3 years |
| 8 kW | $4.15 | $23,248 | $21,299 | 13.0 years |
| 10 kW | $4.07 | $28,490 | $27,193 | 12.8 years |
| 12 kW | $3.99 | $33,504 | $33,315 | 12.5 years |
| 14 kW | $3.91 | $38,291 | $39,666 | 12.3 years |
| 16 kW | $3.83 | $42,849 | $46,244 | 12.0 years |
| 18 kW | $3.74 | $47,179 | $53,050 | 11.8 years |
| 20 kW | $3.66 | $51,282 | $60,084 | 11.5 years |
How to Save on Solar Panels
There are numerous companies available in Woonsocket, 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:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Woonsocket, RI Solar Cost FAQs
How much does it cost to install solar panels in Woonsocket?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $20,350 for a 5-kW system and $40,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Woonsocket?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside 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 option if you want to get the most savings.
Can you sell solar power back to the grid in Woonsocket?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
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 uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.