Cost of solar in Providence, RI

Electricity Consumption in Providence

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 Providence, Rhode Island

If you live in Providence you can't get much luckier when it come to incentives available in your state. Just upfront rebates cover about 60-70% of the upfront cost and the rest is quickly paid for by the excellent feed-in-tariff or (FiT). Solar in Rhode-Island is a must have investment for your home. Even if you don't plan on staying long in your current home the incentives are so good that the system won't actually cost that much and the feed-in-tariff will quickly cover the rest of the cost. Installing a solar system will also add a great deal of value to your home if you're interested in selling.

Unlike most states Rhode Island has an excellent feed in tariff for those who choose to install solar. Picture net metering for example, net metering gives you retail value for any excess energy exported to the grid which on its own is an excellent incentive. In Rhode Island the feed-in-tariff is at 37.75 cents which is twice the average power price, so essence net metering times two, that's amazing! Besides the 30% tax credit Rhode-Island has a rebate of $1.05 per watt meaning about two thirds of the upfront system cost is already covered. These incentives are considered by many as too generous and set to be cancelled or reduced so the time to act 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 Providence, 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 Providence, 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 2.93kW solar system in Providence, RI

This system would offset 100% of your energy usage if your typical monthly bill is $63, however your situation may vary so try our solar calculator to get a result tailored to you.

$6,112

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

2 Years 11 Months

Average payback time

3,420
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 2.93kW system

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

$44,287

(Prices shown after repayments of capital)

 


 

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

21

 


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.