Solar Panel Cost Guide in Narragansett Pier, RI (2024 Update)

  • Narragansett Pier Solar Installation Cost: $11,262
  • 25-Year Savings: $14,088
  • Payback Period: 12.8 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 Narragansett Pier

Let’s take a look at the average cost of solar panels in Narragansett Pier.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Narragansett Pier, the average cost of a solar system is 4 per watt.To account for the typical energy usage of the average home in Narragansett Pier, most homeowners require a 4.0-kilowatt system. Using the figure above, a solar installation costs about $11,262, or $16,105 before the federal solar tax credit of 0 is applied.

Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of equipment you want to get, your solar contractor and more.Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Narragansett Pier can save about $21,000 on their electricity bills over 20 years.

Click the button below to get connected to a top solar panel company in Narragansett Pier for a custom quote.

Solar savings over time in Narragansett Pier

Year Return on Investment
1 years $-9,731
3 years $-6,669
5 years $-3,607
7 years $-545
9 years $2,517
11 years $5,579
13 years $8,641
15 years $11,703
17 years $14,765
19 years $17,827
21 years $20,890
23 years $23,952
25 years $27,014

Top Solar Installers in Narragansett Pier

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar company can make swapping over to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy usage, but working with a solar installer can shorten it. Your provider will be able to help you apply for incentives available in your area.

There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:

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 Narragansett Pier

Factors that Affect Solar Panel Costs in Narragansett Pier

The cost of installing a solar system in Narragansett Pier can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

When it comes to estimating the cost of solar panels in Narragansett Pier, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $4,070 for each additional kilowatt you need.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof 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 extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for a solar system out of pocket is difficult, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Narragansett Pier is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that offer a range of services at different price points.The company’s size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger 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 $15,534 13.3 years
8 kW $4.15 $23,248 $21,167 13.1 years
10 kW $4.07 $28,490 $27,029 12.8 years
12 kW $3.99 $33,504 $33,119 12.6 years
14 kW $3.91 $38,291 $39,436 12.3 years
16 kW $3.83 $42,849 $45,982 12.1 years
18 kW $3.74 $47,179 $52,755 11.8 years
20 kW $3.66 $51,282 $59,756 11.5 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
  • Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
  • Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
  • Contract: Review the contract terms thoroughly to make sure you understand the overall cost, completion timeline incentives and warranties.

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 Narragansett Pier, RI Solar Cost FAQs

What is the average cost of installing solar panels in Narragansett Pier?

The average cost of solar panels in Narragansett Pier is about $20,350 for a 5-kW system and $40,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Narragansett Pier?

Solar panels aren’t free in Narragansett Pier, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

How much can I save on energy bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,110.38 per year.

How long do solar panels last in Narragansett Pier?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.

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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