Cost of solar in Newport, RI

Electricity Consumption in Newport

Electricity Consumption by Rhode Island residents averages 597 kWh per month. It ranks #7 in the nation for savings from installing solar panels on the home.

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Solar power in Newport, Rhode Island

Newport residents are incredibly lucky since incentives in Rhode-Island couldn't get any better with three levels of incentives available. Unlike most places Newport has a 37.75 cents per kWh feed-in-tariff. Besides the usual 30% tax credit there is an on top rebate of $1.05 per watt meaning together about two thirds of all upfront costs for the system are covered. All in all going solar is a no brainer for your home or business in Newport.

If you imagine net metering which exists in most states you are eligible to receive the retail value of power for any excess electricity exported to the grid. With the Rhode-Island feed-in-tariff you receive 37.75 cents per kWh for any excess power exported to the grid, with power at an average of 19 cents per kWh it is in essence net metering doubled. With local and federal level tax credits and rebates you only really need to pay for one third of your system. The remaining third you pay for is covered very quickly with the feed-in-tariff. With many state legislatures believing the incentives in place are too generous many are set to expire or step down so the time to act on solar is now!

Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator to find out:

 

Estimate your solar savings

 

Solar power in Rhode Island

The average cost of installing residential solar panels in Newport, Rhode Island in 2018 is $3.68 per watt. The average system size in the US is 6 kilowatts, which means the average price of a solar system in Newport, RI is $18,400. (before claiming 30% tax credit and other rebates)

What does the cost of a real solar system look like?

Facts about installing a 2.68kW solar system in Newport, RI

This system would offset 100% of your energy usage if your typical monthly bill is $62, however your situation may vary so try our solar calculator to get a result tailored to you.

$5,628

Net cost of system
Cash - after 30% solar tax credit

2 Years 8 Months

Average payback time

3,366
kWh

Annual power production


/kWh

levilized cost of solar energy

39¢
/kWh

If you don't get solar
The forecast average utility price over the next 25 years

Cash flow graph based on cash purchase of this 2.68kW system

Life-time savings on this system over the next 25 years

$44,158

(Prices shown after repayments of capital)

 


 

Solar companies in Newport, RI that provide pricing through the Solar-Estimate marketplace

22

 


Solar calculator and quote comparison tool

Average total cost of solar panel installation in Rhode Island

System Size Cash purchase
After 30% solar tax credit
Financed purchase
After 30% solar tax credit
3kw $8,442 $9,117
4kw $10,948 $11,824
5kw $13,300 $14,364
6kw $15,456 $16,692
7kw $17,493 $18,892
8kw $19,376 $20,926
9kw $21,105 $22,793
10kw $22,680 $24,494

 

Design your own solar panel system for your home

Going solar in Rhode Island

Check out all of the ways energy providers of Rhode Island can help you be more energy efficient and save money.

The following programs are available:
Incentive Name Eligibility Type
Residential Renewable Energy Tax Credit Federal Personal Tax Credit
Small Scale Solar Grants (Commerce RI) State Grant Program
RI Renewable Energy Growth Program (up to $0.375 per kwh for 15 years) State Performance-Based Incentive
Find your local rebates and incentives

Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.