Solar Panel Cost Guide in Bennington, NY (2023 Update)
- Bennington Solar Installation Cost: $9,499
- 25-Year Savings: $5,864
- Payback Period: 15.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Bennington
Let's have a look at the average cost of solar in Bennington.
The average cost of solar panels in Bennington is 2.95 per watt. The average solar panel system size in Bennington is around 4.6 kilowatts, meaning a cost of about $9,499 for a solar installation, or $13,584 before the 30% federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you will most likely differ based on your energy needs and what company you want to go with. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Bennington see about $13,000 in savings on electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Bennington
| Year | Return on Investment |
|---|---|
| 1 years | $-8,884 |
| 3 years | $-7,655 |
| 5 years | $-6,426 |
| 7 years | $-5,197 |
| 9 years | $-3,968 |
| 11 years | $-2,739 |
| 13 years | $-1,510 |
| 15 years | $-281 |
| 17 years | $948 |
| 19 years | $2,177 |
| 21 years | $3,406 |
| 23 years | $4,635 |
| 25 years | $5,864 |
Top Solar Installers in Bennington
Installing solar panels on your own can be a time-consuming task, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar installers provide can be valuable as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
If you'd like to start using solar energy but still aren't certain which solar system installer to go with, here are our suggestions for providers in Bennington:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Bennington
Factors that Affect Solar Panel Costs in Bennington
While the average cost of a solar system in Bennington is $9,499, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,950 per kilowatt in Bennington. There are many different solar panel brands and the one you choose also affects the cost. Usually, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the growing popularity of sustainable energy solutions in Bennington, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.07 | $12,886 | $7,144 | 16.1 years |
| 8 kW | $3.01 | $16,850 | $9,856 | 15.8 years |
| 10 kW | $2.95 | $20,650 | $12,733 | 15.5 years |
| 12 kW | $2.89 | $24,284 | $15,776 | 15.2 years |
| 14 kW | $2.83 | $27,754 | $18,983 | 14.8 years |
| 16 kW | $2.77 | $31,058 | $22,356 | 14.5 years |
| 18 kW | $2.71 | $34,196 | $25,894 | 14.2 years |
| 20 kW | $2.66 | $37,170 | $29,597 | 13.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: The model of solar panel you need plays a role in which installer you should go with, since different companies have different panels.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Bennington, NY Solar Cost FAQs
What is the average cost of installing solar panels in Bennington?
The average cost of solar panels in Bennington is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Bennington have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.