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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Woonsocket, the typical cost of solar panels is 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.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what company you go with.Even with the large upfront cost, the average Woonsocket homeowner can save around $21,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential ROI and connect with a local solar company, 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
Trying to install solar panels yourself can be a dangerous undertaking, which is why using a solar installation company is a good option for many homeowners. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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 Woonsocket
Factors that Affect Solar Panel Costs in Woonsocket
There are several factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Woonsocket, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Woonsocket, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
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 in Woonsocket, and each can charge different amounts for labor and 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 major players.
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
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs 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 panels running smoothly and save you money on repairs and maintenance.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
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 Woonsocket, RI Solar Cost FAQs
How much does it cost to install solar panels in Woonsocket?
The average cost of solar panels in Woonsocket is about $20,350 for a 5-kW system and $40,700 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Woonsocket?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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.
Does Woonsocket have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future energy 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 usage and the average daily 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 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.