Solar Panel Cost Guide in East Franklin, NJ (2024 Update)

  • East Franklin Solar Installation Cost: $11,701
  • 25-Year Savings: $8,668
  • Payback Period: 16.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in East Franklin

We break down average solar pricing in East Franklin.

The national average cost of solar panels is $2.66 per watt, but in East Franklin it’s 4 per watt.Because a 4.7-kW system is needed to cover the energy costs of a typical home in East Franklin, the average price of going solar will be about $11,701 after claiming the federal solar tax credit of 0.

These figures are just estimates, and how much solar costs for you will look different based on your specific situation and what company you choose to go with.Despite the high upfront cost, the average East Franklin homeowner can save around $14,000 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 East Franklin

Year Return on Investment
1 years $-10,279
3 years $-7,434
5 years $-4,589
7 years $-1,745
9 years $1,100
11 years $3,945
13 years $6,790
15 years $9,634
17 years $12,479
19 years $15,324
21 years $18,168
23 years $21,013
25 years $23,858

Top Solar Installers in East Franklin

Many homeowners decide to hire a solar panel installer since trying to put up solar panels by yourself can be challenging. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.

If you’d like to go solar but still aren’t certain which solar panel installer to go with, here are our recommendations for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in East Franklin

Factors that Affect Solar Panel Costs in East Franklin

Though the average cost of a solar system in East Franklin is $11,701, your final cost may differ. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in East Franklin, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.Though solar loans make going solar more accessible for East Franklin homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Finally, the company you choose to install your solar system can influence your pricing. East Franklin’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in East Franklin know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 $3.67 $15,419 $7,198 17.0 years
8 kW $3.60 $20,163 $9,993 16.7 years
10 kW $3.53 $24,710 $12,985 16.4 years
12 kW $3.46 $29,059 $16,175 16.1 years
14 kW $3.39 $33,210 $19,563 15.7 years
16 kW $3.32 $37,164 $23,149 15.4 years
18 kW $3.25 $40,920 $26,932 15.1 years
20 kW $3.18 $44,478 $30,913 14.7 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project completion timeline.
  • Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Solar Panel Brands: The brand of solar panel you’d like plays a part in which installer you should go with, since different companies offer different panels.
  • Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's East Franklin, NJ Solar Cost FAQs

How much does it cost to install solar panels in East Franklin?

This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in East Franklin?

Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.

How will solar panels impact my property value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in East Franklin is currently $471,375, which means you can expect a value of about $19,326 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in East Franklin is a fruitful investment.

How long do solar panels last in East Franklin?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide 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.

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