Solar Panel Cost Guide in Franklin, LA (2024 Update)
- Franklin Solar Installation Cost: $26,773
- 25-Year Savings: $27,558
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Franklin
Find out what the average cost of installing solar panels is in Franklin.
The average cost of a solar panel system in Franklin is 4 per watt.The average Franklin homeowner needs a 10.1-kilowatt system, which would cost about $26,773 with the federal tax credit, or $38,285 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Franklin homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Franklin can save about $17,000 on their power bills over 20 years.
Click the button below to get connected to a top solar company in Franklin for a custom quote.
Solar savings over time in Franklin
| Year | Return on Investment |
|---|---|
| 1 years | $-25,195 |
| 3 years | $-22,040 |
| 5 years | $-18,885 |
| 7 years | $-15,729 |
| 9 years | $-12,574 |
| 11 years | $-9,419 |
| 13 years | $-6,264 |
| 15 years | $-3,108 |
| 17 years | $47 |
| 19 years | $3,202 |
| 21 years | $6,357 |
| 23 years | $9,513 |
| 25 years | $12,668 |
Top Solar Installers in Franklin
Although it's possible to install solar panels yourself, it takes extra time and know-how. Because of that, the majority of homeowners choose a solar panel installer. Local solar companies can also help you optimize your return on investment by assisting with any local incentives and by offering warranties and repairs.
If you’d like to start using solar energy but still aren’t certain which solar panel installer to go with, here are our recommendations for providers in Franklin:
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
The cost of installing a solar system in Franklin can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,800.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Franklin offer solar loans, which reduce your upfront costs of installing a solar system.Although solar loans make going solar more accessible for Franklin homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can impact the cost. Franklin’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that has the products, warranties and services you want and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.95 | $16,598 | $10,624 | 15.2 years |
| 8 kW | $3.88 | $21,706 | $14,590 | 15.0 years |
| 10 kW | $3.80 | $26,600 | $18,770 | 14.7 years |
| 12 kW | $3.72 | $31,282 | $23,162 | 14.4 years |
| 14 kW | $3.65 | $35,750 | $27,768 | 14.1 years |
| 16 kW | $3.57 | $40,006 | $32,586 | 13.8 years |
| 18 kW | $3.50 | $44,050 | $37,616 | 13.5 years |
| 20 kW | $3.42 | $47,880 | $42,860 | 13.2 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: If you care about the durability of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
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, LA Solar Cost FAQs
What is the average cost of installing solar panels in Franklin?
The average cost of solar panels in Franklin is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
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 get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Franklin?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide 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.