6 Best Solar Companies in Rhode Island

The Main Types of Residential Solar Systems

The latest solar technology means there's a reliable, aesthetically-pleasing, and tailored source of clean power for any home. You now have multiple panel options to choose from, and your installer can help you choose based on your energy needs, budget, and home design.

Monocrystalline

In the very hot summers of Rhode Island, you'll get the best results from monocrystalline panels. Each black-hued cell has only one silicon crystal, meaning you can generate more energy with a small array. They're the most expensive of the three types because of their more elaborate manufacturing process, but you'll ultimately save more due to their higher performance under pressure.

Polycrystalline

You can recognize polycrystalline panels by their navy blue shade. Each cell in these panels contains multiple silicon fragments molded together, which translates to less manufacturing waste and a lower starting price point.

However, they're less space-efficient than monocrystalline panels, so you'll need more space on your property for a high-capacity array.

Thin-film

Thin-film arrays are a good choice for value in more "partly sunny" areas of Rhode Island. They keep their efficiency as temperatures fluctuate and work with many different roof shapes. Thin-film solar panels use various metal alloys instead of silicon crystals. Some homeowners choose them for their lower weight or greater compatibility with unique roof shapes. Others go with them for their high heat resistance and low-light performance.

Although some thin-film panels are approximately as efficient as polycrystalline panels, other models are far less efficient or have very short lifespans.

Solar Purchase Options

Installing and using solar energy should never be a financial burden. After you choose the panel type and brand you'd like, you can use one of the following options to help fund your system and get a sooner return on investment:

• Solar leases: You can completely avoid down payments or upfront costs with a solar lease. Instead, you'll pay based on what the provider expects your panels will generate. Leases will frequently include the cost of repairs and scheduled maintenance. If your panels don't reach their efficiency target in a certain month, you could receive a partial reimbursement. Although leases may have an attractive price tag, a lessee can't make use of rebates, tax incentives, or other state programs since the leasing company retains ownership of the panels.
• Power purchase agreements (PPAs): With a power purchase agreement, your installer will pay for your system upfront, then sell the power from your panels back to you. The cost per kilowatt you pay will likely be less than what you'd pay your utility company. However, PPAs can be lengthy commitments, with some lasting 25 years. You could be subject to extra fees if you move out of your house or terminate of the contract.
• Solar loans: Most homeowners purchase their solar panels by taking out a solar loan, whether through their contractor's financing partners or a local bank. It's usually easier to repay a loan than to finish a PPA. Further, because you're purchasing rather than leasing, you can take full advantage of incentives and special offers from your utility or local government. While a solar loan will increase your upfront costs, you'll have superior long-term savings.

Besides the purchase price of the panels, you'll also be liable for your installation company's labor costs and the price of electrical, roofing, or plumbing work they subcontracted to other companies. Each financing option will generally cover all of these costs.

Residential Solar Incentives and Cost Support

Going solar is a sizable investment, and utility companies and state governments often offer financial incentives to lower costs and welcome you into the clean, decentralized energy world. Some of the most common types of programs include:

• Tax credits: Tax credits or temporary exemptions for brand new solar equipment are common in many U.S. states. Consult with your tax preparer for more specific information on what is available and the forms you need to file. Remember that no matter what, you should file Form 5695 on your federal returns to apply for a 30% credit on the value of your solar panels.
• Rebates: Rebates can come from a manufacturer, power company, or government. Your solar contractor can help you file applications during the planning phase of your project. Sometimes, the rebate amount will be sent to the installer as compensation for installing a company's products or interconnecting the system. With other programs, it will go directly to you, and you can use it for your first loan, lease, or PPA bills.
• Net metering: Many homeowners have solar panels that generate more electricity than their property needs. If you're enrolled in a net metering program, you'll send power you don't use back to the grid in exchange for credits on your energy bill. This saves you money and fortifies the security of the power grid for others in your area.
• Net billing: There's a national trend toward more utilities retiring net metering in favor of net billing schemes. Fundamentally speaking, both programs work the same. However, with net billing, you sell the power to your utility company instead of earning credits for your excess solar generation. Compensation will usually be at a wholesale or avoided-cost rate, which is less than retail.

Solar Energy By the Numbers in Rhode Island

Curious about solar energy's impact on the Rhode Island economy? These statistics paint a good picture of the growing solar market in your area.

• A 5 kW solar installation in Rhode Island has an average payback period of 9.9 years. However, you would also save $1,084.14 on your energy bill.
• Solar energy has enabled the creation of 1,009 jobs in Rhode Island, with more added as companies grow and technology continues to improve.
• Without solar, the average family spends about $2,011 a year on their energy bill.
• Rhode Island generates 20 MW of residential solar energy, reaching 44,493 homes and growing.
• In Rhode Island, the average new home solar array is rated for up to 10.1 kW and costs $27,044.

Useful Resources

If you'd like to learn more about solar energy in your area, take a look at these pages and resources:

• Best solar companies by city: If you're looking for tailored solar company recommendations in your area, Today's Homeowner has just what you need. We can recommend you the best companies in cities like PROVIDENCE,RI, WARWICK,RI, CRANSTON,RI, PAWTUCKET,RI and EAST PROVIDENCE,RI.
• DSIRE: You can use DSIRE to track solar incentive programs in your area, including solar thermal rebates, public policies in your state, net metering or billing programs, and solar photovoltaic incentives.
• PVWatts: Produced by the United States Department of Energy, this tool lets you enter your address and get predictions of how much energy solar panels could generate at your specific location.