Solar Panels Cost $6.0k-$18k in Tiverton CDP, RI | November, 2024
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How much do solar panels cost in Tiverton CDP, RI in 2024?
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Going solar in the month of November, 2024 in Tiverton CDP, RI costs $4.32/W.
Expect costs to be $4,320, on average, for every 1000 watts (or 1 kW) of solar energy your solar panels will need to generate. We are able to come to this conclusion by using the rate price cost. In Tiverton CDP, the cost of a 5 kW system is generally $15,120, after a 30% federal tax credit. A more powerful system could be needed to ensure your energy requirements are met.
To the left, you have the option to select your county and see the typical roof size along with the average maximum capacity for residential solar in homes in your area. Below is a detailed summary of the costs, payback period, and 20-year average savings for a 5 kW system installed in your county.
Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Tiverton CDP: $15,120US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Tiverton CDP: 6 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Tiverton CDP: $32,741US Average: $16,169
Solar Potential in Tiverton CDP
Estimated system size and solar electricity production per median viable roof in Tiverton CDP.
Roof size 536sq. ft.
Capacity 7.5kW DC
Electricity 8.8kkWh AC per yr.
Electricity Costs in Tiverton CDP, RI & What that Means for Your Solar Panel Pricing
The typical energy consumer in Tiverton CDP has a monthly electric bill of $226.42 and uses 642 kWh on average. Compact apartments are also encompassed in the numbers noted in the prior sentence. The lower energy use in these types of dwellings impacts those averages.
As of November 2024, the average rate for electricity per kWh in Tiverton CDP, RI is 35.24¢.
In Tiverton CDP, average users has to have a system size of 6 kW or greater to fully take care of all of their energy usage requirements. Before incentives, a 6 kW solar system is around $25,920, with the federal tax credit returning 30% of your investment amount, reducing the price to $18,144.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Tiverton CDP
To the left and below, you can find a detailed pricing breakdown for various solar panel system sizes installed in Tiverton CDP. While a larger solar installation does come with a higher price tag, it also offers increased electricity savings and larger income tax credits.
Check a cost benefit analysis in the solar panel cost calculator down and to the right, for an average electric bill of $226.42 in Tiverton CDP. Modify the $226.42 to your usual electricity bill payment for customized results.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $1,005 a year
Est. Price
$6,048
Savings from a 2kWthis system
Est. yearly production 2,871 kWh
Est. monthly savings $84
Full payback in 2 years
Environmental Impacts
Reduces CO2 emissions by 1 tons a year
Equivalent to planting 46 trees a year
Equivalent to driving 2,473 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $1,507 a year
Est. Price
$9,072
Savings from a 3kWthis system
Est. yearly production 4,306 kWh
Est. monthly savings $126
Full payback in 3 years
Environmental Impacts
Reduces CO2 emissions by 1.5 tons a year
Equivalent to planting 69 trees a year
Equivalent to driving 3,710 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $2,009 a year
Est. Price
$12,096
Savings from a 4kWthis system
Est. yearly production 5,741 kWh
Est. monthly savings $167
Full payback in 4 years
Environmental Impacts
Reduces CO2 emissions by 2 tons a year
Equivalent to planting 92 trees a year
Equivalent to driving 4,946 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $2,512 a year
Est. Price
$15,120
Savings from a 5kWthis system
Est. yearly production 7,177 kWh
Est. monthly savings $209
Full payback in 6 years
Environmental Impacts
Reduces CO2 emissions by 2.5 tons a year
Equivalent to planting 115 trees a year
Equivalent to driving 6,183 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $3,014 a year
Est. Price
$18,144
Savings from a 6kWthis system
Est. yearly production 8,612 kWh
Est. monthly savings $226
Full payback in 7 years
Environmental Impacts
Reduces CO2 emissions by 2.7 tons a year
Equivalent to planting 124 trees a year
Equivalent to driving 6,675 mi less a year
Tiverton CDP Solar Panel Installation Incentives & Rebates | 2024
For rural farms and small businesses, the REAP Grant might currently cover between 80% and 100% of the expenses for installing solar or wind energy systems. Curious if you fit this category? Confirm your eligibility with our REAP Grant eligibility tool.
Nearly all residents are eligible for the 30% federal income tax credit for residential solar, which makes it a practical option in many states in the country. In addition to the federal incentives, state and local programs also aim to boost solar energy uptake.
Rhode Island provides 12 solar rebates and incentives from multiple utility companies and government organizations.
Solar incentives in RIIncentive Description Value
Small Scale Solar Grants (Commerce RI)
Value:Up to $10,000
Small-scale solar PV or water heating projects may be eligible for grant funding from the Rhode Island Commerce Corporation. The grant program is an initiative of the state's Renewable Energy Fund, though compliance penalties from renewable portfolio standard laws also support grants. Any resident, business, nonprofit, or public agency may apply. Only systems recommended by an energy auditor and which pass various engineering and financial analyses may be funded. Grants are based on project capacity and expected performance. The rate schedule differentiates between systems that are owned by the grantee and systems which the grantee leases from a third party. The maximum amount a grantee can receive is $200,000 for an owned system and $100,000 for a leased system. Additional information on how to apply is available from the Commerce RI website.
Property Tax Exemption for Renewable Energy Equipment
Value:Varies
Renewable energy systems installed in Rhode Island may be exempt from property taxes if they are used by a residence or manufacturer. Qualifying technologies include active solar, wind, hydroelectric, geothermal, and some biomass/fuel cells. Systems in other commercial contexts are not exempt, but taxes on these systems may be stabilized at the local level. Additional information is available from the Office of Energy Resources.
Renewable Energy Standard
Value:Varies
Rhode Island first established a renewable portfolio standard in 2004. All public/private utilities, cooperatives, and retail electric distributors are required to participate. Long-term goals require the state's utilities to source 38.5% of their retail energy using renewable technologies by 2035. Utilities must achieve this goal in annual "steps," with a target of 17.5% by the end of 2021. Compliance is measured through a renewable energy certificate (REC) system pegging one megawatt hour of electricity to a variable dollar value. Utilities may invest in their own renewable energy facilities to generate credits themselves; they may also purchase credits from customers. Utilities that fail to meet their REC quota will be assessed a compliance penalty per credit they are deficient.
Renewable Energy Professional Certification
Value:Varies
Workers involved in the installation or repair of renewable energy equipment must hold a license from the state board. Specialty Renewable Energy Professional (REP) certificates cover all structural work necessary for the operation of a solar, wind, or another renewable device. Experience, education, and examination requirements apply to journeymen and contractors applying for the certificate. United Illuminating and Everblue offer expedited pipelines to licensure for their professionals. REPs are required to subcontract electrical or pipework to a licensed electrician or plumber.
Interconnection Guidelines
Value:Varies
Distributed generation and interconnection practices in Rhode Island have been standardized since 2011. Unlike jurisdictions that use tiers and levels to organize energy systems, Rhode Island uses permit processes themselves as benchmarks. Systems at a qualifying capacity level may be eligible for expedited permit reviews and fewer regulations. All systems must follow recognized standards such as those set by IEEE or UL. Utilities may require system owners to carry liability insurance coverage and/or install additional safety features such as outside disconnect switches.
Green Building Standards for State Facilities
Value:Varies
As of 2009, new state government buildings in Rhode Island have been subject to green construction standards and requirements. New occupied public-sector construction over 5,000 feet, as well as remodeling projects over 10,00 square feet, must meet the requirements for LEED certification and pursue formal accreditation from the US Green Building Council. Different LEED standards apply to public schools, and Green Globes or IGCC standards may count as meeting the requirement. Compliance with the legislative act enabling these standards is overseen by a committee under the Department of Administration. Annual reports are available from the RI Building Code Commission website.
Commercial Scale Renewable Energy Grants (Commerce RI)
Value:Varies
Commercial renewable energy projects may be eligible for grant funding from the Rhode Island Commerce Corporation. The grant program is an initiative of the state's Renewable Energy Fund, though compliance penalties from renewable portfolio standard laws also support grants. Qualifying projects include new solar arrays, wind turbines, hydroelectric systems, and some fuel cell/biomass systems. Only systems recommended by an energy auditor and which pass various engineering and financial analyses may be funded. Grants are based on project capacity and expected performance. The rate schedule differentiates between systems that are owned by the grantee and systems which the grantee leases from a third party. The maximum amount a grantee can receive is $200,000 for an owned system and $100,000 for a leased system. Additional information on how to apply is available from the Commerce RI website.
Rhode Island Renewable Energy Fund (RIREF)
Value:Varies
Rhode Island's Renewable Energy Fund was established in 1996 as the first in the nation. Routine fund operations are managed by a partnership of the Rhode Island Commerce Corporation and Public Utilities Commission. Funding is acquired through two mandatory usage-based surcharges on all gas and electric bills. One surcharge covers renewable energy, while the other covers demand-side management. REF initiatives include loans and grants for communities, small businesses, corporations, and nonprofits. Additional information is available from the Commerce Corporation website.
Renewable Energy Products Sales and Use Tax Exemption
Value:Varies
In Rhode Island, sales/use tax exemptions may apply to renewable energy devices. Currently, solar collectors, solar thermal system components, inverters, structural components for solar panels, geothermal pumps, and wind turbines qualify. Additional information is available from the Rhode Island Office of Energy Resources.
Net Metering
Value:Varies
In Rhode Island, any renewable energy system rated for up to 10 MW qualifies for net metering. The only condition is that systems should produce all of the host property's electrical demand - nothing more. Under net metering, a customer's utility will install a bidirectional meter to measure a system's net excess generation (NEG) sent back to the grid. Customers will be compensated in the form of a bill credit for their monthly NEG. Utilities may, at their discretion, claim the bill credit for themselves to recover administrative costs. Virtual and aggregated net metering arrangements are available for microgrid customers and customers with more than one metered energy system. Additional information is available from participating utilities.
Rhode Island C-PACE program
Value:Varies
Cities and counties in Rhode Island may create and join property-assessed clean energy (PACE) financing districts. Any residential or commercial property may be eligible for special loans through the initiative. Effectively, PACE loans come from public funding, though they are serviced through local assessors and the Rhode Island Infrastructure Bank. Repayment takes the form of a property tax lien senior to mortgages. Should the borrower sell or transfer their property, the new owner will be responsible for continuing repayments. If the borrower defaults or forecloses on their property, the Infrastructure Bank manages a loss reserve fund that can "pay off" the lien. Interested home/business owners should consult with their local government, as not every jurisdiction offers PACE loans.
Renewable Energy Growth Program
Value:Varies
Renewable Energy Growth (REG) is a Rhode Island incentive tariff initiative promoting solar energy adoption in the state. Interconnected residential, commercial, and industrial solar system owners may earn a performance-based incentive on top of net metering for a fixed 15 - 20 year period. Energy generated by REG participants goes toward the state renewable portfolio standard, but utilities are not required to enter power purchase agreements. Customers can therefore keep the RECs they generate. Additional information is available from the program website.
Are solar panels worth it in Rhode Island?
If you foresee living in your home longer than the solar system's payback period, installing solar panels is an smart decision in Tiverton CDP. By installing a 5 kW solar system in Tiverton CDP, RI, you can expect to save approximately $39,220.8 over 20 years, with the break even point typically being 6 years.
The cost of not having solar panels in Tiverton CDP, RI
Failing to have solar panels or an alternative backup energy results in missing the savings mentioned earlier and being completely reliant on your electric utility for electricity. Numerous recent examples in the news have highlighted that complete reliance on your utility company is not always the best option.
In recent times, utilities in Tiverton CDP have recorded an average of 0.68 outages per customer annually. Typically, outages have an average duration of 66.62 minutes. However, during significant events such as thunderstorms, wildlife damage, or grid management errors, these times can drastically increase.
A solar panel system, whether or not it has a backup battery, could reduce the impact of future outages you might experience.
Power Outages
Currently, 0 customers are being tracked in Newport County.
What impacts the cost of solar panels in Tiverton CDP, RI?
Your Energy Needs - Investing in larger solar panel systems costs more upfront, but the price per watt is lowered as the system size grows. For most homeowners, setting up a system that can generate enough power to eliminate their entire electric bill is useful, providing significant savings.
Make & Model - Solar panels, like many other products, are available in various makes and models. Your contractor’s potential brand preferences make it crucial to choose a reputable contractor. For buyers desiring a more favorable long-term experience, investing in superior quality makes and models is critical.
Solar Panel Type - The standard in the industry is now monocrystalline panels, and justifiably so. These panels have a higher cost but yield more energy. The majority of installers in the industry work with panels constructed of this material.
Your Property - Trees, uneven landscapes, or other obstacles can increase the complexity of the installation. These days, solar installers can leverage satellite images to assess your home and factor in these factors into the first cost estimate.
Labor Rates - Companies compensate their employees in varying amounts, and these costs are borne by consumers. Companies that invest in higher wages often see higher reviews for their work and customer service.
Permitting & Interconnection - Local permitting and utility interconnection fees, which vary by region, will influence your final installation cost. Reliable local installers will build these figures into your preliminary estimates to prevent any surprises.
Solar systems for selling electricity back to the grid.
Expertise in consulting on advantageous financing for solar.
Installation of solar arrays.
Tiverton CDP, RI Solar Panel Cost FAQs
The cost per watt for solar panels in Tiverton CDP, RI during November of 2024 averages $4.32/W. After federal tax credits, the installation of a 5 kW solar panel system in Tiverton CDP, RI is estimated to cost $15,120.
Currently, Rhode Island residents can benefit from 12 rebates and incentives available through various utilities and government bodies. On top of that, nearly everyone can qualify for the 30% federal tax credit.
Even though cash payments yield the greatest savings, several financing options for solar panels today are also financially beneficial. Information about financing options is typically included in initial quotes provided by installers.
Yes, in Tiverton CDP, RI, 5 kW solar panel systems typically pay off in 6 years, and users save around $39,220.8 in electricity costs over 20 years.