Solar Panel Cost Guide in Benton, MI (2024 Update)
- Benton Solar Installation Cost: $16,836
- 25-Year Savings: $15,918
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Benton
Let’s have a look at the average cost of solar panels in Benton.
In Benton, solar panels cost about 4 per watt on average.The average Benton homeowner needs a 5.9-kilowatt system, which would cost about $16,836 with the federal tax credit, or $24,075 before the 0 tax credit is applied.
The true cost of your system can go above or below the average in Benton based on several factors, such as the kind of solar panels you choose and the solar contractor you hire.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Benton can save about $18,000 on their electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Benton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,611 |
| 3 years | $-13,163 |
| 5 years | $-10,714 |
| 7 years | $-8,265 |
| 9 years | $-5,816 |
| 11 years | $-3,367 |
| 13 years | $-918 |
| 15 years | $1,531 |
| 17 years | $3,979 |
| 19 years | $6,428 |
| 21 years | $8,877 |
| 23 years | $11,326 |
| 25 years | $13,775 |
Top Solar Installers in Benton
Putting up solar panels on your own can be a dangerous project, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you’d like to make the switch to solar but still aren’t sure which solar installer to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
See all of the solar companies in Benton
Factors that Affect Solar Panel Costs in Benton
Although the average cost of a solar system in Benton is $16,836, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $4,060. The brand of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Benton to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Benton is the company you get to install your PV system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Benton know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $10,191 | 15.9 years |
| 8 kW | $4.14 | $23,191 | $14,042 | 15.6 years |
| 10 kW | $4.06 | $28,420 | $18,121 | 15.3 years |
| 12 kW | $3.98 | $33,422 | $22,427 | 15.0 years |
| 14 kW | $3.90 | $38,196 | $26,961 | 14.7 years |
| 16 kW | $3.82 | $42,744 | $31,722 | 14.4 years |
| 18 kW | $3.74 | $47,064 | $36,710 | 14.0 years |
| 20 kW | $3.65 | $51,156 | $41,926 | 13.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose significantly influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
EcoWatch's Benton, MI Solar Cost FAQs
What is the average cost of installing solar panels in Benton?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Benton?
You can’t get solar panels for free in Benton. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Benton?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.