Solar Panel Cost Guide in Cranston, RI (2024 Update)

  • Cranston Solar Installation Cost: $11,860
  • 25-Year Savings: $13,671
  • Payback Period: 13.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Cranston

We go over average solar pricing in Cranston.

In Cranston, solar panels cost about 4 per watt on average.Using this figure, a typical 4.2-kW system would cost about $11,860 before the 0 federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you choose, your solar contractor and more.Even with the significant initial cost, the average Cranston homeowner can save about $20,000 on their electricity bills over 20 years, which is one of the benefits of solar.

You can click the button below to get connected with a top solar company in Cranston that can help you get a more accurate cost estimate for your home.

Solar savings over time in Cranston

Year Return on Investment
1 years $-10,329
3 years $-7,267
5 years $-4,205
7 years $-1,143
9 years $1,919
11 years $4,981
13 years $8,043
15 years $11,105
17 years $14,168
19 years $17,230
21 years $20,292
23 years $23,354
25 years $26,416

Top Solar Installers in Cranston

When making the switch to solar, many homeowners prefer to use a solar installer since installing solar panels yourself can be a challenging project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.

If you're on the hunt for a solar installer in Cranston, we've compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • 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

★★★★★
4.0

  • 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 Cranston

Factors that Affect Solar Panel Costs in Cranston

Even though the average cost of a solar system in Cranston is $11,860, your final cost may differ. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.

Solar Equipment

When it comes to estimating the cost of a solar panel system in Cranston, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $4,070 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Cranston average.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Cranston homeowners opt to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

A final factor to consider when trying to evaluate the cost of solar for your home or business in Cranston is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different price points.Additionally, some companies in Cranston have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 $4.23 $17,778 $13,854 14.1 years
8 kW $4.15 $23,248 $18,928 13.8 years
10 kW $4.07 $28,490 $24,230 13.5 years
12 kW $3.99 $33,504 $29,760 13.2 years
14 kW $3.91 $38,291 $35,518 13.0 years
16 kW $3.83 $42,849 $41,503 12.7 years
18 kW $3.74 $47,179 $47,717 12.4 years
20 kW $3.66 $51,282 $54,159 12.2 years

How to Save on Solar Panels

There are numerous companies to choose from in Cranston, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:

  • Warranty: If you care about the durability of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
  • Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
  • Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the completion timeline.
  • Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Cranston, RI Solar Cost FAQs

How much does it cost to install solar panels in Cranston?

The average cost of solar panels in Cranston 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 such as 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 Cranston?

Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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 savings from going solar.

Is making the switch to solar worth it?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.

How many solar panels should I get to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home requires 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 home 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.

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