Solar Panel Cost Guide in Bennington, VT (2023 Update)
- Bennington Solar Installation Cost: $10,929
- 25-Year Savings: $22,829
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Bennington
See how much it might cost to go solar in Bennington.
In Bennington, solar panels cost about 2.87 per watt on average. Using this figure, a typical 5.4-kW system would cost about $10,929 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what company you go with. Despite the large initial cost, the average Bennington homeowner can save about $24,000 on their energy bills over 20 years, which is one of the positives of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Bennington
| Year | Return on Investment |
|---|---|
| 1 years | $-9,579 |
| 3 years | $-6,878 |
| 5 years | $-4,177 |
| 7 years | $-1,477 |
| 9 years | $1,224 |
| 11 years | $3,924 |
| 13 years | $6,625 |
| 15 years | $9,326 |
| 17 years | $12,026 |
| 19 years | $14,727 |
| 21 years | $17,428 |
| 23 years | $20,128 |
| 25 years | $22,829 |
Top Solar Installers in Bennington
Putting up solar panels on your own can be a stressful undertaking, which is why getting a solar installer is a good option for many homeowners. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for your family.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Bennington:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Bennington
Factors that Affect Solar Panel Costs in Bennington
For many Bennington homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Bennington, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over 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 that have greater efficiency or power generation use 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 $2,870. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Bennington, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. 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 Bennington to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. However, the interest on solar loans also adds to your all-in costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Bennington are more knowledgeable 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 | $2.98 | $12,536 | $24,690 | 8.4 years |
| 8 kW | $2.93 | $16,393 | $33,242 | 8.3 years |
| 10 kW | $2.87 | $20,090 | $41,954 | 8.1 years |
| 12 kW | $2.81 | $23,626 | $50,827 | 7.9 years |
| 14 kW | $2.76 | $27,001 | $59,860 | 7.8 years |
| 16 kW | $2.70 | $30,215 | $69,055 | 7.6 years |
| 18 kW | $2.64 | $33,269 | $78,410 | 7.4 years |
| 20 kW | $2.58 | $36,162 | $87,926 | 7.3 years |
How to Save on Solar Panels
There are a lot of companies available in Bennington, 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:
- Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: If you care about the durability of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Bennington, VT Solar Cost FAQs
What is the average cost of installing solar panels in Bennington?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $14,350 for a 5-kW system and $28,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 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.