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Solar vs. grid power: how much can you save?
Electricity rates are on the rise. The U.S Energy Information Administration (EIA) estimates that electricity prices in the U.S. rose 6.2% in 2023 alone.
Homeowners across the country are looking for ways to reduce their energy costs and many are turning to solar energy. But just how much can you save with solar and is it worth the investment?
Solar customers can often save tens of thousands of dollars over the lifespan of their solar system. To determine exactly how much you can save, you’ll have to do a little math.
Compare your current cost per kW from The Narragansett Electric Co with the cost per kW of your solar system. Then calculate your monthly or yearly expenses across a 25-year period. Finally, subtract your total cost of energy with solar from your total of energy from the grid to determine your savings
A simpler way to estimate your savings potential is to compare your current monthly energy costs with your projected solar payments. If your energy costs are higher than your solar payments, there is a good chance you will see savings.
At Solar Cost Calculator, we suggest that anybody paying more than $100 a month for electricity should consider solar.
What solar incentives The Narragansett Electric Co does offer?
Category : Financial Incentive
Website : http://www.masscec.com/hydropower-0
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Tribal Government, Institutional
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : http://www.masssave.com/en/business/incentive-programs/new-construction-renovation
Applicable Sectors : Commercial, Construction, Industrial, Local Government, Schools, State Government, Installers/Contractors, Institutional
Incentive Amount : Incentive amounts vary widely based on type of technology. Consult the MassSave website linked in this record for up-to-date incentive information.
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.masssave.com/business/programs-and-services/deep-energy-retrofit
Applicable Sectors : Commercial, Construction, Industrial, Local Government, Schools, State Government, Federal Government, Installers/Contractors, Institutional
Incentive Amount : Deep Energy Retrofit (DER) Acheivement: up to $1/sq. ft
Implementing Sector : Utility
Category : Financial Incentive
Website : http://www.masscec.com/get-clean-energy/residential/solar-hot-water
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Multifamily Residential, Low Income Residential, Institutional
Incentive Amount : Incentive amounts vary based on multiple factors, see program description for details.
Implementing Sector : State
Category : Financial Incentive
Website : https://www.rienergy.com/RI-Business/Energy-Saving-Programs/Large-Business-Program
Applicable Sectors : Commercial, Industrial, Local Government, Schools, State Government, Federal Government, Retail Supplier, Institutional
Incentive Amount : See specific forms listed above for incentive amounts and details.
Implementing Sector : Utility
Category : Regulatory Policy
Website : https://ripuc.ri.gov/utility-information/electric
Applicable Sectors : Investor-Owned Utility, Municipal Utilities, Cooperative Utilities
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : https://www.rienergy.com/RI-Home/Energy-Saving-Programs/rebate-programs
Applicable Sectors : Construction, Residential, Multifamily Residential, Low Income Residential
Incentive Amount : Heating and Cooling Central AC: $40 Central Heat Pump: $350/ton High-Efficiency Heat Pump: $1,250/ton Mini Split Heat Pump (Ducted): $350/ton Mini Split Heat Pump (Non-Ducted): $150/ton Energy Star Smart Thermostat: $75/unit ENERGY STAR® Certified Low-E Storm Windows: See website for details. Natural Gas Heating Rebates Hot Water Boiler: $800 Warm Air Furnace: $550 Energy Star Certified On-Demand Tankless Water Heater: $600 Energy Star Certified Storage Water Heater: $75 Combined condensing boiler and on-demand water heating unit: $1,000 Water Heaters High-Efficiency Water Heater: up to $600 High-Efficiency Natural Gas Water Heater: $100 - $600 Electric Heat Pump Water Heater: $600 Appliances Refrigerator or Freezer Recycling: See website for details. Clothes Dryer: $50 Air Conditioner: $40 Air Cleaner: $40 Home Energy Assessment See website for details. Multifamily Services See website for details.
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.rienergy.com/RI-Home/Energy-Saving-Programs/rebate-programs
Applicable Sectors : Residential
Incentive Amount : ENERGY STAR® Smart Thermostat: Up to $75/each 7-Day Programmable Thermostat: Up to $25/each Hot water boiler: $800 Warm air furnace: $550 On-demand Tankless Water Heater: $600 Storage Water Heater: $75 Combined condensing boiler and on-demand water heating unit: $1,000
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.rienergy.com/RI-Business/Energy-Saving-Programs/Large-Business-Program
Applicable Sectors : Commercial, Industrial, Federal Government
Incentive Amount : Furnace: $300 - $500 Condensing Unit Heater: $750 Infrared Heater: $750 Condensing Boiler: $750 - $7,500 Combined Natural Gas Furnace & On-Demand Water Heating Unit $700 - $1,200 Aerator: $8/ea. Showerhead: $20/ea. After Market Boiler Reset Controls: $225/ea. Steam Traps: $50/ea. 7-Day Programmable Thermostats: $25/ea. Wireless Enabled Thermostats: $100/ea.
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.rienergy.com/RI-Business/Energy-Saving-Programs/Small-Business
Applicable Sectors : Commercial, Federal Government
Incentive Amount : Custom Electric Efficiency Rebates: Up to 70% of costs
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.rienergy.com/RI-Business/Energy-Saving-Programs/rebate-programs
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, Federal Government, Agricultural, Institutional
Incentive Amount : Lighting Varies, See Program Brochure HVAC Air Source, AC: $30 - $100/ton Water Source, HP: $37.50 - $100/ton Water Source or Evaporatively Sourced, AC: $20 - $25/ton Air Source HP: $20 - $125/ton Ground Source HP: $75/ton Air Source, VRF: $125 - $175/ton Water Source, VRF: $125 - $175/ton Outside Air Economizer utilizing two enthalpy sensors: $125/unit ECM Pump : $100 - $200/unit Condensing Units for Refrigeration: $200 - $400/ton Commercial PEI-Rated Efficient Water Pumps: $0.10 - $2.50/HP/ER Electronically Commutated Motor (ECM) Circulator Pumps: $100 Custom Custom HVAC: 50% of the total costs of more efficient equipment Custom New Construction/Major Renovation: up to 75% of incremental costs Custom Retrofits: up to 50% of the total costs of more efficient equipment
Implementing Sector : Utility
Category : Regulatory Policy
Website : https://energy.ri.gov/renewable-energy/wind/net-metering
Applicable Sectors : Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Low Income Residential, Institutional
Incentive Amount :
Implementing Sector : State
Net metering with The Narragansett Electric Co
Category : Regulatory Policy
Website : https://energy.ri.gov/renewable-energy/wind/net-metering
Applicable Sectors : Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Low Income Residential, Institutional
Incentive Amount :
Implementing Sector : State
Installing and connecting your solar system
When you install a solar system in The Narragansett Electric Co territory, these are steps you can expect to go through:
Once you’ve hired a contractor, you will need to communicate with The Narragansett Electric Co to prepare the interconnection paper. Your contractor will handle most of these responsibilities
After the interconnection agreement has been finalized, your contractor can begin the installation process.
Once your system is installed, it needs to be inspected for safety and code compliance.
After the final inspection, you will receive a written notice within a few days that your system is approved to operate. You can turn on the system yourself or you can contact your installer for further assistance.
Most homeowners prefer to do it themselves. The whole process should only take 10 - 15 minutes.
Is solar worth it for The Narragansett Electric Co customers?
The short and sweet answer is a resounding YES. Going solar is definitely worth it for The Narragansett Electric Co customers. The average homeowner in _UtilityCompanyName_ can save an estimated #### over the lifespan of their solar system.
Going solar is a long game so you need to think several years ahead. It can take a few years to hit your break even period. But between net metering and solar incentives, you can drastically reduce that timeframe.
Want to get an idea for what it will cost you to go solar with The Narragansett Electric Co? You can use our Solar Cost Calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.
