This paper studies the effect of dwell time on consensus of high‐order multiagent systems with time‐varying topologies. In contrast to existing literature that only focuses on the convergence of consensus, the proposed work focuses on the sensitivity of consensus on the dwell time and studies its relationship with consensus behaviors. In particular, it is shown that dwell time determines the duration of agent interactions, resulting in different state dynamics, consensus values, and convergence speeds under different switching topologies. Such effects can impact the dynamical performance of the multiagent systems. To quantitatively analyze the effect, a procedure is proposed to estimate the consensus values with respect to the dwell time and switching topologies, and a condition is obtained to find the topologies that can speed up the convergence. The proposed study is applied to the regulation of microgrids, which proves to be effective in improving the performance and efficiency of controllers.