Solar Panel Cost Guide in Franklin, NC (2024 Update)

  • Franklin Solar Installation Cost: $17,187
  • 25-Year Savings: $24,096
  • Payback Period: 11.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Franklin

Find out what the average cost of a solar system is in Franklin.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Franklin, the typical cost of a solar system is 4 per watt.Since a 7.0-kW system is needed to cover the energy consumption of a typical home in Franklin, the average price of going solar will be about $17,187 after claiming the federal solar tax credit of 0.

These figures are just averages, and how much solar costs for you may vary based on the amount of energy your home requires and what company you choose to go with.Even with the large upfront cost, the average Franklin homeowner can save about $20,000 on their electricity bills over 20 years, which is one of the advantages of solar.

You can click the button below to get connected with a vetted solar company in Franklin for a quote for your home.

Solar savings over time in Franklin

Year Return on Investment
1 years $-15,864
3 years $-13,220
5 years $-10,576
7 years $-7,932
9 years $-5,287
11 years $-2,643
13 years $1
15 years $2,645
17 years $5,290
19 years $7,934
21 years $10,578
23 years $13,222
25 years $15,867

Top Solar Installers in Franklin

Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be a lot of work. Another upside of utilizing a solar installer is that they can help you optimize your investment by cutting back on future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.

Working with a professional solar company can make going solar easier. Here are our recommendations:

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Franklin

Factors that Affect Solar Panel Costs in Franklin

Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Franklin: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

When it comes to estimating the cost of solar panels in Franklin, one of the most important 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 usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $3,510 for each additional kilowatt you need.The brand and type of equipment you want for your solar system can raise or lower 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Franklin to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time due to interest.However, the interest on solar loans also adds to your overall costs, so it’s vital to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

A final factor to consider when trying to figure out the cost of solar for your home or business in Franklin is the company you choose to install your solar system. As with choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that offer a range of services at different costs.The company’s size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater 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 companies.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.65 $15,332 $16,005 12.2 years
8 kW $3.58 $20,049 $21,733 12.0 years
10 kW $3.51 $24,570 $27,657 11.8 years
12 kW $3.44 $28,894 $33,778 11.5 years
14 kW $3.37 $33,022 $40,096 11.3 years
16 kW $3.30 $36,953 $46,610 11.1 years
18 kW $3.23 $40,688 $53,321 10.8 years
20 kW $3.16 $44,226 $60,228 10.6 years

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

  • Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
  • Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
  • Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Solar Panel Brands: Different companies will have various brands and models of panels. If you want a specific brand, make sure the solar installer you’re considering has it.

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Franklin, NC Solar Cost FAQs

What is the average cost of installing solar panels in Franklin?

The average cost of solar panels in Franklin is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider in addition to cost when buying solar panels?

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 areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Can solar panels significantly reduce my energy bills?

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,044.54 per year.

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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