Solar Panel Cost Guide in Benton, MI (2023 Update)
- Benton Solar Installation Cost: $11,645
- 25-Year Savings: $15,926
- Payback Period: 10.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Benton
See how much it might cost to make the switch to solar in Benton.
The average cost of a solar panel system in Benton is 2.81 per watt. The average Benton homeowner needs a 5.9-kilowatt system, which would cost about $11,645 with the federal tax credit, or $16,652 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Benton homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $18,000 on electricity bills over 20 years, many homeowners in Benton find investing in solar has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Benton for a quote for your home.
Solar savings over time in Benton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,542 |
| 3 years | $-8,336 |
| 5 years | $-6,130 |
| 7 years | $-3,925 |
| 9 years | $-1,719 |
| 11 years | $487 |
| 13 years | $2,692 |
| 15 years | $4,898 |
| 17 years | $7,104 |
| 19 years | $9,309 |
| 21 years | $11,515 |
| 23 years | $13,721 |
| 25 years | $15,926 |
Top Solar Installers in Benton
Although it's possible to install solar panels yourself, it involves extra effort and know-how. That's why most homeowners choose a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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
The cost of installing a solar system in Benton can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Benton, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Benton to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can impact how much you pay. Benton's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that offers the products, warranties and services you want and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.92 | $12,274 | $15,651 | 11.0 years |
| 8 kW | $2.87 | $16,051 | $21,182 | 10.8 years |
| 10 kW | $2.81 | $19,670 | $26,871 | 10.6 years |
| 12 kW | $2.75 | $23,132 | $32,717 | 10.4 years |
| 14 kW | $2.70 | $26,436 | $38,721 | 10.1 years |
| 16 kW | $2.64 | $29,584 | $44,882 | 9.9 years |
| 18 kW | $2.59 | $32,574 | $51,200 | 9.7 years |
| 20 kW | $2.53 | $35,406 | $57,676 | 9.5 years |
How to Save on Solar Panels
There are a lot of companies available in Benton, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: If you're concerned about the durability of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Benton?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is going solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.