Solar Panel Cost Guide in Franklin, WI (2024 Update)
- Franklin Solar Installation Cost: $18,650
- 25-Year Savings: $28,276
- Payback Period: 11.4 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.
The average cost of solar panels in Franklin is 4 per watt.The average solar panel system size in Franklin is around 6.9 kilowatts, meaning a cost of about $18,650 for a solar installation, or $26,670 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more.Many homeowners find installing a solar system is a solid investment. The average homeowner in Franklin can save around $23,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar installer in your area for a custom quote.
Solar savings over time in Franklin
| Year | Return on Investment |
|---|---|
| 1 years | $-17,354 |
| 3 years | $-14,763 |
| 5 years | $-12,172 |
| 7 years | $-9,581 |
| 9 years | $-6,990 |
| 11 years | $-4,399 |
| 13 years | $-1,808 |
| 15 years | $783 |
| 17 years | $3,374 |
| 19 years | $5,965 |
| 21 years | $8,556 |
| 23 years | $11,147 |
| 25 years | $13,738 |
Top Solar Installers in Franklin
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make swapping over to solar power much easier. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best for Leasing
Sunrun
- 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 Franklin
Factors that Affect Solar Panel Costs in Franklin
There are a number of factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar panel 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 about $3,880. The kind of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Franklin to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Franklin, and each can charge different amounts for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.04 | $16,948 | $18,679 | 11.9 years |
| 8 kW | $3.96 | $22,163 | $25,340 | 11.7 years |
| 10 kW | $3.88 | $27,160 | $32,219 | 11.4 years |
| 12 kW | $3.80 | $31,940 | $39,314 | 11.2 years |
| 14 kW | $3.72 | $36,503 | $46,627 | 11.0 years |
| 16 kW | $3.65 | $40,849 | $54,157 | 10.7 years |
| 18 kW | $3.57 | $44,977 | $61,905 | 10.5 years |
| 20 kW | $3.49 | $48,888 | $69,870 | 10.3 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 selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Before signing a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Franklin, WI Solar Cost FAQs
What is the average cost of installing solar panels in Franklin?
The average cost of solar panels in Franklin is about $19,400 for a 5-kW system and $38,800 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Franklin?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Franklin?
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 how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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.