Cost of Solar Panels In Rhode Island
Updated July 6, 2024 | 9 min read
Fortunately for Rhode Island homeowners, the cost of solar panels has decreased more than 54% in the last 10 years. And with abundant sunshine year-round and so many financial incentives, more than 120,000+ homes and businesses have decided solar panels are worth it in The Ocean State!
But how much does it cost to install solar panels in Rhode Island? See the complete breakdown of the cost of solar panels in RI below, or request a customized solar quote for your home, in minutes!
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How Much Do Solar Panels Cost In Rhode Island
The most solar industry data shows that the average cost of solar panels in Rhode Island ranges from $9,000 to $14,000, depending on how much energy your home needs. Given the average home size in Rhode Island is approximately 1,800 sq ft., the average solar system price in Rhode Island is around $11,391 prior to taking advantage of Rhode Island's solar incentives.
Here’s a more complete breakdown of the cost of solar panels in Rhode Island, by home size.
Home Size (sq ft) |
System Size |
Average Costs |
|---|---|---|
| 1,500 - 1,750 | 3 kW | $9,614 |
| 1,750 - 2,000 | 4 kW | $11,391 |
| 2,000 - 2,300 | 5 kW | $13,884 |
| 2,300 - 2,500 | 6 kW | $15,920 |
| 2,500 - 2,800 | 7 kW | $17,545 |
| 2,800 - 3,000 | 8 kW | $20,212 |
** It's important to note that these costs DO NOT include the thousands you can save by utilizing Rhode Island's Solar Incentives. See which solar financial incentives you qualify for by entering your zip code below!
Enter your zip code to see which RI Solar Incentives your qualify for!
Do I Qualify?
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Factors That Influence The Costs of Solar
Going solar in Rhode Island can be a wise move for numerous homeowners because of the substantial potential savings on monthly utility bills and its eco-friendly contribution. The price of solar panel installation in Rhode Island is shaped by several variables, such as your household's energy needs, the particular solar panels you opt for, and any supplementary equipment you might consider, like a solar battery or additional panels.
Though initial expenses can fluctuate, Rhode Island homeowners can expect significant financial benefits. A large portion of those who go solar report a 40% to 60% decrease in their electricity bills. What's more, in Rhode Island, it's common for solar panels to recoup their costs in less than 10 years!
Installation & Labor Costs
In Rhode Island, the expenditure for solar doesn't pertain to just the panels. You'll also need to account for the costs related to the installation process, securing permits, and requisite inspections to ensure everything is up to standard. These typically comprise 10% to 20% of the overall solar outlay.
Good news! Opportunities exist to decrease the initial costs of solar in Rhode Island. Browse our guide to learn how to get solar panels set up without any upfront costs in Rhode Island!
Equipment Costs
Here's an overview of Rhode Island's solar equipment expenses. A substantial chunk, around 60-70%, of your total expenditure goes towards the core components: the solar panels, inverters, and mounting hardware. These pieces are pivotal for capturing and converting sunlight into sustainable energy for a prolonged period.
Solar Taxes
When investing in solar panels in Rhode Island, it's essential to factor in potential sales and property taxes due to the enhanced property value. Yet, Rhode Island has provisions in place that can exempt property taxes for solar panels! Input your zip code below to determine which solar incentives you can take advantage of!
Enter your zip code to see which Rhode Island Solar Incentives your home qualifies for!
Do I Qualify?
Please enter a zip code
How to Reduce The Costs of Solar Panels in Rhode Island
Rhode Island offers abundant financial benefits for residents looking to transition to solar energy. With the state's commitment to promoting renewable energy, numerous avenues for savings beckon those in the Ocean State.
Curious about the solar incentives you might qualify for? Reach out to local solar experts for a comprehensive overview. They're equipped to provide details on available solar reductions, guide you seamlessly through the application steps, and present an estimate tailored for your home's solar needs.
ROI on Solar | Solar Payback Period
Ever wondered how soon solar panels could turn profitable in Rhode Island? Considering the current power tariffs and appealing solar rewards, many homeowners see their investment pay off in merely 7-9 years! Once those initial costs are offset, the economic benefits roll on, solidifying the case for solar energy in Rhode Island.
Solar Financing Options
Concerned about the initial investment? No need! With flexible options such as power purchase agreements (PPAs) and solar loans available, going solar doesn’t have to come with a hefty price tag upfront. Opting for a PPA or a solar loan lets you tap into the benefits of solar almost immediately without a major cash outlay.
Intrigued by zero upfront cost solutions? Delve into methods to have your solar panels set up without any immediate expenses in Rhode Island!
Rhode Island Solar Incentives
Rhode Island stands out for its generous solar incentives. Homeowners in this state can benefit from federal solar tax credits, plus a range of state-centric rebates and perks. These advantages considerably diminish the overall expenditure of your solar journey, positioning solar installation in Rhode Island as a savvy decision.
See the complete list of Rhode Island's solar benefits here.
Embracing solar in Rhode Island is both affordable and forward-thinking. By capitalizing on the state's robust solar incentives and varied financing pathways, you can be part of the green energy tide, capture the sun’s prowess, and cherish considerable financial gains!
Enter your zip code below to see which RI Solar Incentives you qualify for!
Do I Qualify?
Please enter a zip code
Are Solar Panels Worth it in Rhode Island?
Yes, for a vast number of homeowners in Rhode Island, solar power offers remarkable savings on electric bills, all while fostering a more sustainable future. Rhode Island's unwavering commitment to solar advancements, underscored by its enticing incentives and tax reliefs, means that many locals can see a return on their solar panel investments in just a handful of years. The icing on the cake? These panels maintain their efficiency, producing virtually cost-free electricity for an impressive 20-30 years, maybe even longer. Imagine basking in consistent cutbacks on your utility bills and harnessing clean, renewable energy for decades on end!
Read Also: The Pros & Cons of Solar Panels in Rhode Island.
Taking the solar plunge in Rhode Island is both simple and gratifying, especially when armed with knowledgeable guidance. In a flash, you can secure a free quote for your solar panels in Rhode Island. This package includes a virtual review of your property, insights on the solar incentives you're entitled to, and an approximation of your potential financial benefits. Explore all of your solar options, commitment-free. Become a member of the rapidly growing community of homeowners reaping the rewards of solar energy in Rhode Island!
Make the switch to solar and start saving in Rhode Island!
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