Solar Panel Cost Guide in Franklin, VA (2024 Update)
- Franklin Solar Installation Cost: $19,344
- 25-Year Savings: $4,313
- Payback Period: 25.3 Years
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Average Cost of Solar Panels in Franklin
Here’s how much it might cost to install solar panels in Franklin.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Franklin, the typical cost of solar panels is 4 per watt.The average solar panel system size in Franklin is around 7.7 kilowatts, meaning a cost of about $19,344 for a solar installation, or $27,662 before the 0 federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you may differ based on factors unique to your home and what company you want to go with.Despite the significant upfront cost, the average Franklin homeowner can save around $9,900 on their electricity bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a highly rated solar panel company in Franklin for a customized quote.
Solar savings over time in Franklin
| Year | Return on Investment |
|---|---|
| 1 years | $-17,745 |
| 3 years | $-14,548 |
| 5 years | $-11,350 |
| 7 years | $-8,152 |
| 9 years | $-4,954 |
| 11 years | $-1,756 |
| 13 years | $1,442 |
| 15 years | $4,640 |
| 17 years | $7,838 |
| 19 years | $11,035 |
| 21 years | $14,233 |
| 23 years | $17,431 |
| 25 years | $20,629 |
Top Solar Installers in Franklin
When making the switch to solar, many homeowners decide to go with a solar installation company since installing solar panels yourself can be a challenging project. The expertise that solar companies offer can be helpful as well, particularly if you don’t quite know what brand of solar equipment you need.
If you’d like to go solar but still aren’t certain which solar company to go with, here are our suggestions for providers near you:
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Franklin
Factors that Affect Solar Panel Costs in Franklin
The cost of installing a solar system in Franklin can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,590. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Franklin, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of 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
Many homeowners find the average cost of solar in Franklin to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.However, the interest on solar loans also adds to your overall costs, so it’s crucial to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Franklin is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services for different budgets.Additionally, some companies in Franklin have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 | $3.73 | $15,681 | $-770 | 26.3 years |
| 8 kW | $3.66 | $20,506 | $-624 | 25.8 years |
| 10 kW | $3.59 | $25,130 | $-278 | 25.3 years |
| 12 kW | $3.52 | $29,553 | $270 | 24.8 years |
| 14 kW | $3.45 | $33,775 | $1,019 | 24.3 years |
| 16 kW | $3.37 | $37,796 | $1,968 | 23.8 years |
| 18 kW | $3.30 | $41,615 | $3,119 | 23.3 years |
| 20 kW | $3.23 | $45,234 | $4,471 | 22.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer’s reputation is by reading reviews.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Contract: Before signing a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Franklin, VA Solar Cost FAQs
What is the average cost of installing solar panels in Franklin?
The average cost of solar panels in Franklin is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose 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.