Solar Panel Cost Guide in Benton Harbor, MI (2024 Update)
- Benton Harbor Solar Installation Cost: $16,836
- 25-Year Savings: $16,715
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Benton Harbor
We break down average solar pricing in Benton Harbor.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Benton Harbor, the average cost of a solar system is 4 per watt.Because a 5.9-kW system is needed to cover the energy consumption of a typical home in Benton Harbor, the average price of going solar will be about $16,836 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what installation company you go with.Despite the significant upfront cost, the average Benton Harbor homeowner can save about $18,000 on their energy bills over 20 years, which is one of the benefits of solar.
To receive a free estimate from a top solar installer in Benton Harbor, you can click the button below.
Solar savings over time in Benton Harbor
| 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 Harbor
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring an installer can make your swap to solar power much easier. The expertise that solar installers offer can be helpful as well, particularly if you aren’t sure what kind of solar equipment you need.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Harbor
Factors that Affect Solar Panel Costs in Benton Harbor
For many Benton Harbor homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Benton Harbor, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Benton Harbor.The type of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Even though solar loans make adopting solar energy more accessible for Benton Harbor homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence your pricing. Benton Harbor’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Benton Harbor know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $10,997 | 15.4 years |
| 8 kW | $4.14 | $23,191 | $15,118 | 15.1 years |
| 10 kW | $4.06 | $28,420 | $19,466 | 14.8 years |
| 12 kW | $3.98 | $33,422 | $24,041 | 14.5 years |
| 14 kW | $3.90 | $38,196 | $28,843 | 14.2 years |
| 16 kW | $3.82 | $42,744 | $33,873 | 13.9 years |
| 18 kW | $3.74 | $47,064 | $39,131 | 13.7 years |
| 20 kW | $3.65 | $51,156 | $44,615 | 13.4 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Benton Harbor, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
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 Harbor, MI Solar Cost FAQs
How much does it cost to install solar panels in Benton Harbor?
This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Benton Harbor?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will having solar panels impact the value of my home?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.