Solar Panel Cost Guide in Franklin, TN (2024 Update)
- Franklin Solar Installation Cost: $19,919
- 25-Year Savings: $6,112
- Payback Period: 24.9 Years
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Average Cost of Solar Panels in Franklin
We break down average solar pricing in Franklin.
In Franklin, solar panels cost about 4 per watt on average.The average solar panel system size in Franklin is around 7.9 kilowatts, meaning a cost of about $19,919 for a solar installation, or $28,484 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Franklin see about $10,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Franklin for a quote for your home.
Solar savings over time in Franklin
| Year | Return on Investment |
|---|---|
| 1 years | $-18,475 |
| 3 years | $-15,587 |
| 5 years | $-12,699 |
| 7 years | $-9,810 |
| 9 years | $-6,922 |
| 11 years | $-4,034 |
| 13 years | $-1,146 |
| 15 years | $1,742 |
| 17 years | $4,630 |
| 19 years | $7,518 |
| 21 years | $10,407 |
| 23 years | $13,295 |
| 25 years | $16,183 |
Top Solar Installers in Franklin
When switching to solar energy, many homeowners prefer to use a solar installer since putting up solar panels yourself can be a time-consuming project. The payback period on a solar system will vary based on factors like your roof configuration and energy needs, but going with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
For many Franklin homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Franklin, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,580. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Franklin, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Franklin homeowners choose to finance their solar panel systems to offset upfront costs.Even though solar loans make going solar more accessible for Franklin homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Franklin, and each can charge different amounts for labor and equipment.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.72 | $15,637 | $-566 | 25.9 years |
| 8 kW | $3.65 | $20,449 | $-353 | 25.4 years |
| 10 kW | $3.58 | $25,060 | $60 | 24.9 years |
| 12 kW | $3.51 | $29,471 | $673 | 24.4 years |
| 14 kW | $3.44 | $33,681 | $1,487 | 23.9 years |
| 16 kW | $3.37 | $37,690 | $2,502 | 23.4 years |
| 18 kW | $3.29 | $41,499 | $3,716 | 22.9 years |
| 20 kW | $3.22 | $45,108 | $5,132 | 22.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
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, TN Solar Cost FAQs
What is the average cost of installing solar panels in Franklin?
The average cost of solar panels in Franklin is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on stuff such as 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?
You can’t get solar panels for free in Franklin. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Franklin?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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 buy 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.