Solar Panel Cost Guide in Bennington, OH (2023 Update)
- Bennington Solar Installation Cost: $13,741
- 25-Year Savings: $18,277
- Payback Period: 10.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Bennington
See how much it might cost to install solar panels in Bennington.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bennington, the typical cost of a solar system is 2.56 per watt. Using this figure, a typical 7.7-kW system would cost about $13,745 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar panels you choose, your solar contractor and more. But, once you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $16,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Bennington
| Year | Return on Investment |
|---|---|
| 1 years | $-12,409 |
| 3 years | $-9,745 |
| 5 years | $-7,081 |
| 7 years | $-4,417 |
| 9 years | $-1,753 |
| 11 years | $911 |
| 13 years | $3,575 |
| 15 years | $6,239 |
| 17 years | $8,903 |
| 19 years | $11,567 |
| 21 years | $14,231 |
| 23 years | $16,896 |
| 25 years | $19,560 |
Top Solar Installers in Bennington
Although it's possible to install solar panels by yourself, it takes extra effort and expertise. That's why almost all homeowners choose to hire a solar panel installer. The expertise that solar installers provide can be valuable as well, especially if you aren't sure what kind of solar equipment you need.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Bennington
Factors that Affect Solar Panel Costs in Bennington
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Bennington: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,560. The type of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than 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 researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Bennington to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in Bennington, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Bennington have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $2.66 | $11,182 | $13,871 | 11.2 years |
| 8 kW | $2.61 | $14,623 | $18,782 | 10.9 years |
| 10 kW | $2.56 | $17,920 | $23,836 | 10.7 years |
| 12 kW | $2.51 | $21,074 | $29,033 | 10.5 years |
| 14 kW | $2.46 | $24,084 | $34,374 | 10.3 years |
| 16 kW | $2.41 | $26,952 | $39,858 | 10.1 years |
| 18 kW | $2.36 | $29,676 | $45,485 | 9.9 years |
| 20 kW | $2.30 | $32,256 | $51,256 | 9.7 years |
How to Save on Solar Panels
There are a large number of companies available in Bennington, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Bennington, OH Solar Cost FAQs
What is the average cost of installing solar panels in Bennington?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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 get 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.