Solar Panel Cost Guide in Franklin, LA (Oct 2022)

  • Franklin Solar Installation Cost: $18,098
  • 25-Year Savings: $27,567
  • Payback Period: 9.9 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Franklin

Find out what the average cost of installing solar panels is in Franklin.

While the national average of solar panels is $2.66 per watt, solar panels in Franklin typically cost around $3. The average solar panel system size in Franklin is around 10.1 kilowatts, meaning a cost of about $18,098 for a solar installation, or $13,393 after the 30% federal solar tax credit is applied.

The true price you pay can go higher or lower than the average in Franklin depending on several factors, such as the model of solar panels you choose and the solar installer you hire. But, once you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on electricity bills.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Franklin

Year Return on Investment
1 years $-16,271
3 years $-12,618
5 years $-8,965
7 years $-5,312
9 years $-1,659
11 years $1,995
13 years $5,648
15 years $9,301
17 years $12,954
19 years $16,607
21 years $20,260
23 years $23,914
25 years $27,567

Top Solar Installers in Franklin

Putting up solar panels yourself can be a challenging task, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be invaluable as well, particularly if you don't quite know what type of solar equipment would be right for your home.

You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:

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 Technology

The Green Panel

★★★★★
4.5

  • 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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • 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

For many Franklin homeowners, the decision to adopt solar energy 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 greatly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

When it comes to estimating the price of a solar panel system in Franklin, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,570 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Franklin, where sunlight is abundant, efficiency can quickly pay off. Also, 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

Many homeowners find the average cost of solar in Franklin to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time due to interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.

Solar Panel Installation Company

The solar company you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Franklin, and each can charge different amounts for labor and equipment. The company's size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.67 $11,226 $15,996 10.3 years
8 kW $2.62 $14,680 $21,616 10.1 years
10 kW $2.57 $17,990 $27,380 9.9 years
12 kW $2.52 $21,156 $33,288 9.7 years
14 kW $2.47 $24,179 $39,339 9.5 years
16 kW $2.42 $27,057 $45,535 9.3 years
18 kW $2.36 $29,791 $51,875 9.1 years
20 kW $2.31 $32,382 $58,358 8.9 years

Solar Incentives in Franklin

Name Solar Energy System Exemption
Incentive Amount 100%
More Info Click here

Name Home Energy Loan Program (HELP)
Incentive Amount $6,000 from LA DNR
Website Visit here
More Info Click here

Name New Orleans City - Energy Smart Program
Incentive Amount
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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. Since choosing a company can be a tough decision, we have some tips to help you, such as:

  • Installation Process: When going solar, it's essential to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the project timeline.
  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
  • Reputation: Make sure your solar system 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 EcoWatch.
  • Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.

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 Technology

The Green Panel

★★★★★
4.5

  • 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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Franklin, LA Solar Cost FAQs

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

The average cost of solar panels in Franklin is about $12,850 for a 5-kW system and $25,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Franklin?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Is it worth going solar in Franklin?

Solar panels can be a great investment for most 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 reasonably low, solar panels might not be for you.

How long do solar panels last in Franklin?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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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