Solar Panel Cost Guide in Bennington, VT (2023 Update)
- Bennington Solar Installation Cost: $10,931
- 25-Year Savings: $22,827
- Payback Period: 8.1 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
Find out how much it might cost to switch to solar power in Bennington.
The average cost of a solar system in Bennington is 2.87 per watt. Using this figure, a typical 5.4-kW system would cost about $10,929 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Bennington based on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. Many homeowners find adopting solar power is a solid investment. The average homeowner in Bennington can save around $24,000 on their electricity bills over 20 years.
For a personalized 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 | $-9,570 |
| 3 years | $-6,848 |
| 5 years | $-4,126 |
| 7 years | $-1,405 |
| 9 years | $1,317 |
| 11 years | $4,039 |
| 13 years | $6,761 |
| 15 years | $9,482 |
| 17 years | $12,204 |
| 19 years | $14,926 |
| 21 years | $17,648 |
| 23 years | $20,369 |
| 25 years | $23,091 |
Top Solar Installers in Bennington
When going solar, many homeowners prefer to hire a solar installation company since handling can be a time-consuming project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're looking for a solar installer in Bennington, the EcoWatch team has organized a list of our top suggestions here:
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
The cost of installing a solar system in Bennington can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, 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 affects the overall cost of installing solar panels. Because of that, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to think about 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Bennington homeowners decide to finance their solar panel systems to offset upfront costs. 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 lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that provides the products, warranties and services you want and also is within 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 | $2.98 | $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
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
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
How much does it cost to install solar panels in Bennington?
The average cost of solar panels in Bennington is about $14,350 for a 5-kW system and $28,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Bennington?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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 savings from going solar.
How will solar panels impact the value of my home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't go for 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 solar panels."
How often do you have to replace solar panels?
Though 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 how much energy they produce will have decreased significantly after that point. You can opt 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.