With solar, you are producing electricity for the lowest, most stable cost possible
By purchasing less electricity from the utility you also reduce fossil fuel dependencies and actively contribute to a sustainable, renewable energy future.
High-Value, Low & Stable Pricing
Solar panels produce stable electricity prices with the lowest per kWh price of any electricity source. Because they generate electricity from “free” fuel and require little to no maintenance, they deliver incredibly high-value.
Solar panels have fallen in price by more than 70% in the last ten years, while their efficiency and output continues to grow. Additionally, both Rhode Island state incentives and the federal tax credit have driven net solar costs to an all-time low. In 2020, Rhode Island residents paid National Grid about $0.21 per kWh while the average Newport Solar installation produced electricity at $0.07 per kWh for a 66% savings!
The cost of electricity in Rhode Island is well above the US average, with fossil fuels generating most of the electricity used. Market forces drive our electricity costs. As the cost of extraction goes up and resources become more scarce, electricity costs steadly rise. This has been a consistent trend for 20+ years. Because prices will continue to rise, we estimate that solar can lower electricity costs by 70-80% over the next 25-years.
Return on Investment
Solar panels are a great investment.
The annual rate of return for solar panels in Rhode Island can often be well over 14%.
This high return on investment comes at low risk:
- The amount of sun that hits a solar array in Rhode Island is consistent and dependable
- Reliable and well tested solar panels produce electricity for 25+ years
- Regular monthly savings add up to the system payback
- Return on investment continues over the life of the system
Caring for the natural world around us is a shared responsibility.
In Rhode Island, over 90% of our electricity is created by burning fossil fuels, generating greenhouse gasses and toxic byproducts. These emissions can damage human health, harm our environment, and disturb industries that rely on shared natural resources.
While it takes energy to manufacture, ship, and install a solar array, this energy is typically recovered by solar production in 2-3 years
You can be confident that installing a solar array on your property is both a positive financial and environmental decision.
By installing solar power on your property in Rhode Island, you will achieve cost savings, price stability, an excellent return on investment, all while helping the environment