How much do solar panels cost in Rhode Island?

Solar panels cost a lot to install, but they can save tons of money over time by shrinking or eliminating your electricity bills. The average Rhode Island homeowner needs a 9.54 kW solar panel system to cover their electricity needs, which comes out to $31,869 before incentives. Prices range from $27,089 to $36,649 before incentives.

Does Rhode Island have a solar tax credit?

Factor in the federal solar tax credit and Rhode Islanders can cut the cost of solar by thousands of dollars, speeding up their payback periods and increasing the value of their investments. Here's what you need to know about going solar in Rhode Island.

Does solar pay off in Rhode Island?

Solar pays off in Rhode Island.That's why over 13,000 Rhode Island homeowners have used EnergySage to receive and compare quotes for solar installations. You can expect to earn back your initial solar investment through electricity savings in about 6.83 years, while most systems last at least 25 years.

Do Rhode Islanders get a solar grant?

As a Rhode Islander, you can participate in either the Renewable Energy Growth (REG) Program or a Renewable Energy Fund (REF) Small Scale Solar Grant (but not both). These are both first-come, first-serve incentives where you can earn $0.27 per kWh or $0.65 per watt (up to $5,000), respectively.

How do I finance a solar panel system?

There are a few ways to finance your solar panel system so you don't have to provide all that money upfront. Cash purchase: You'll own the system and pay for it upfront. This provides the best long-term savings. Solar loan: Allows you to retain ownership of your system, while owing little to no money upfront.