Solar Panel Cost Guide in Franklin, LA (2024 Update)
- Franklin Solar Installation Cost: $26,773
- 25-Year Savings: $27,558
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Franklin
Find out what the average cost of installing solar panels is in Franklin.
While the national average of solar panels is $2.66 per watt, solar panels in Franklin generally cost around 4.The average Franklin homeowner needs a 10.1-kilowatt system, which would cost about $26,773 with the federal tax credit, or $38,285 before the 0 tax credit is applied.
The true cost of your system can go above or below the average in Franklin based on several factors, such as the model of solar panels you choose and the solar contractor you hire.Despite the high upfront cost, the average Franklin homeowner can save about $17,000 on their power bills over 20 years, which is one of the benefits of solar.
To get a free quote from a vetted solar installer in Franklin, you can click the button below.
Solar savings over time in Franklin
| Year | Return on Investment |
|---|---|
| 1 years | $-25,195 |
| 3 years | $-22,040 |
| 5 years | $-18,885 |
| 7 years | $-15,729 |
| 9 years | $-12,574 |
| 11 years | $-9,419 |
| 13 years | $-6,264 |
| 15 years | $-3,108 |
| 17 years | $47 |
| 19 years | $3,202 |
| 21 years | $6,357 |
| 23 years | $9,513 |
| 25 years | $12,668 |
Top Solar Installers in Franklin
Although you can install solar panels by yourself, it involves extra time and expertise. Because of that, most homeowners choose to go with a solar panel installer. Another perk of going with a solar installer is that they can help you make the most of your return of investment by reducing your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Franklin
Factors that Affect Solar Panel Costs in Franklin
There are many factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Franklin, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited 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
If paying for a solar system out of pocket is too expensive, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can impact how much you pay. Franklin’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete 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 | $3.95 | $16,598 | $10,624 | 15.2 years |
| 8 kW | $3.88 | $21,706 | $14,590 | 15.0 years |
| 10 kW | $3.80 | $26,600 | $18,770 | 14.7 years |
| 12 kW | $3.72 | $31,282 | $23,162 | 14.4 years |
| 14 kW | $3.65 | $35,750 | $27,768 | 14.1 years |
| 16 kW | $3.57 | $40,006 | $32,586 | 13.8 years |
| 18 kW | $3.50 | $44,050 | $37,616 | 13.5 years |
| 20 kW | $3.42 | $47,880 | $42,860 | 13.2 years |
How to Save on Solar Panels
There are a large number of companies available in Franklin, 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:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The model of solar panel you need to get plays a role in which installer you should opt for, since different companies provide different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Franklin, LA Solar Cost FAQs
What is the average cost of installing solar panels in Franklin?
The average cost of solar panels in Franklin is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Franklin?
Solar panels aren’t free in Franklin, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Franklin?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Franklin?
Even 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 decide to replace them after having them for that long or you can keep using 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.