Solar Panel Cost Guide in Franklin, KS (2023 Update)
- Franklin Solar Installation Cost: $14,105
- 25-Year Savings: $26,918
- Payback Period: 8.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Franklin
Here's how much it might cost to make the switch to solar in Franklin.
In Franklin, solar panels cost about 2.59 per watt on average. The average Franklin homeowner needs a 7.8-kilowatt system, which would cost about $14,105 with the federal tax credit, or $20,170 before the 30% tax credit is applied.
How much you pay can go higher or lower than the average in Franklin depending on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $20,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar installer in Franklin for a quote for your home.
Solar savings over time in Franklin
| Year | Return on Investment |
|---|---|
| 1 years | $-12,464 |
| 3 years | $-9,182 |
| 5 years | $-5,900 |
| 7 years | $-2,619 |
| 9 years | $663 |
| 11 years | $3,945 |
| 13 years | $7,227 |
| 15 years | $10,509 |
| 17 years | $13,791 |
| 19 years | $17,073 |
| 21 years | $20,355 |
| 23 years | $23,636 |
| 25 years | $26,918 |
Top Solar Installers in Franklin
Although it's possible to install solar panels yourself, it takes extra labor and know-how. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
If you'd like to go solar but still aren't certain which solar system company to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Franklin
Factors that Affect Solar Panel Costs in Franklin
There are many factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The kind of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than 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 searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Franklin homeowners choose to finance their solar panel systems to make going solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire 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. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions 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 | $2.69 | $11,313 | $20,327 | 8.9 years |
| 8 kW | $2.64 | $14,794 | $27,393 | 8.8 years |
| 10 kW | $2.59 | $18,130 | $34,603 | 8.6 years |
| 12 kW | $2.54 | $21,321 | $41,959 | 8.4 years |
| 14 kW | $2.49 | $24,367 | $49,460 | 8.3 years |
| 16 kW | $2.43 | $27,268 | $57,106 | 8.1 years |
| 18 kW | $2.38 | $30,023 | $64,897 | 7.9 years |
| 20 kW | $2.33 | $32,634 | $72,833 | 7.7 years |
How to Save on Solar Panels
There are numerous companies available in Franklin, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Franklin, KS Solar Cost FAQs
How much does it cost to install solar panels in Franklin?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,950 for a 5-kW system and $25,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
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 goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Franklin is currently $130,873, so you can look forward to a value of about $5,366 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Franklin is a worthwhile investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can 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 get between 20 and 35 panels to account for 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.