Are Solar Panels Worth It in Rhode Island? Data-Backed Analysis
✓
Yes
Solar panels are a strong investment in Rhode Island based on available data.
The Numbers
Average System Cost
$173,470
41.8 kW system
After Federal ITC
$121,429
30% tax credit applied
Total Installations
4,630
86% residential
Factors in Favor
- ✓Below-average installation cost ($4.15/W vs national $4.18/W)
- ✓Federal 30% Investment Tax Credit available to all homeowners
- ✓86% residential - strong homeowner adoption
Things to Consider
- !Relatively few installations (4,630) - market is still developing
Rhode Island vs National Average
| Metric | Rhode Island | National |
|---|---|---|
| Cost per Watt | $4.15 | $4.18 |
| Total Installations | 4,630 | 3,426,466 |
| Total Capacity | 194 MW | - |
Frequently Asked Questions
The average solar system in Rhode Island costs approximately $173,470 (avg 41.8 kW system at $4.15/W). After the 30% federal ITC, your net cost would be around $121,429.
All Rhode Island homeowners are eligible for the federal 30% Investment Tax Credit (ITC), which reduces the cost by approximately $52,041. Additional state and local incentives may further reduce your costs. Visit our Rhode Island incentives page for a complete breakdown.
Rhode Island has 4,630 solar installations. Combined with competitive costs and available incentives, solar is a strong investment in Rhode Island.
Source: LBNL Tracking the Sun, U.S. Department of Energy, EIA. Costs and savings are estimates based on average residential installations and may vary.