Solar Panel Cost Guide in Franklin Town, MA (2023 Update)
- Franklin Town Solar Installation Cost: $9,073
- 25-Year Savings: $16,941
- Payback Period: 8.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Franklin Town
Let's have a look at the average cost of solar panels in Franklin Town.
While the national average of solar panels is $2.66 per watt, solar panels in Franklin Town generally cost about 2.94. Since a 4.4-kW system is needed to cover the energy needs of a typical home in Franklin Town, the average price of going solar will be about $9,076 after claiming the federal solar tax credit of 30%.
How much you pay can be higher or lower than the average in Franklin Town based on a few factors, such as the type of solar panels you choose and the solar company you hire. Even with the high upfront cost, the average Franklin Town homeowner can save about $22,000 on their power bills over 20 years, which is one of the advantages of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Franklin Town
| Year | Return on Investment |
|---|---|
| 1 years | $-7,350 |
| 3 years | $-3,903 |
| 5 years | $-456 |
| 7 years | $2,991 |
| 9 years | $6,438 |
| 11 years | $9,885 |
| 13 years | $13,332 |
| 15 years | $16,779 |
| 17 years | $20,225 |
| 19 years | $23,672 |
| 21 years | $27,119 |
| 23 years | $30,566 |
| 25 years | $34,013 |
Top Solar Installers in Franklin Town
Although you can install solar panels yourself, it takes extra time and knowledge. For that reason, almost all homeowners choose to hire a solar panel installer. Also, if you'd like to maximize your investment in solar, using a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
If you'd like to make the switch to solar but still aren't certain which solar system installer to go with, here are our recommendations for providers in Franklin Town:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Franklin Town
Factors that Affect Solar Panel Costs in Franklin Town
Though the average cost of a solar system in Franklin Town is $9,076, your actual cost may differ. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the price of a solar panel system in Franklin Town, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $2,940 for each additional kilowatt you need. The type of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. 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's in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Franklin Town homeowners decide to finance their solar panel systems to make paying for solar more affordable. It's a good idea 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
Finally, the company you get to install your solar system can affect the cost. Franklin Town'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 bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $3.06 | $12,842 | $22,562 | 9.1 years |
| 8 kW | $3.00 | $16,793 | $30,411 | 8.9 years |
| 10 kW | $2.94 | $20,580 | $38,426 | 8.7 years |
| 12 kW | $2.88 | $24,202 | $46,605 | 8.5 years |
| 14 kW | $2.82 | $27,660 | $54,949 | 8.4 years |
| 16 kW | $2.76 | $30,952 | $63,457 | 8.2 years |
| 18 kW | $2.70 | $34,080 | $72,130 | 8.0 years |
| 20 kW | $2.65 | $37,044 | $80,968 | 7.8 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. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: The kind of solar panel you'd like plays a role in which installer you should choose, since different companies have access to different panels.
- Warranty: If you're worried about the endurance of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Franklin Town, MA Solar Cost FAQs
How much does it cost to install solar panels in Franklin Town?
The average cost of solar panels in Franklin Town is about $14,700 for a 5-kW system and $29,400 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 consume.
Can you get solar panels for free in Franklin Town?
You can't get solar panels for free in Franklin Town. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Franklin Town, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.