Solar Panel Cost Guide in Franklin, NJ (2023 Update)

  • Franklin Solar Installation Cost: $9,191
  • 25-Year Savings: $8,660
  • Payback Period: 12.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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

We go over average solar pricing in Franklin.

The average cost of solar panels in Franklin is 2.77 per watt. The average solar panel system size in Franklin is around 4.7 kilowatts, meaning a cost of about $9,191 for a solar installation, or $13,143 before the 30% federal solar tax credit is applied.

These figures are just averages, and your own solar costs may look different based on the amount of energy your home requires and what company you choose to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Franklin can save about $14,000 on their electricity bills over 20 years.

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 $-8,477
3 years $-7,049
5 years $-5,621
7 years $-4,193
9 years $-2,765
11 years $-1,337
13 years $91
15 years $1,519
17 years $2,947
19 years $4,376
21 years $5,804
23 years $7,232
25 years $8,660

Top Solar Installers in Franklin

When making the switch to solar, many homeowners prefer to go with a solar company since installing a solar system yourself can be a challenging project. Companies can also have access to a large variety of the best solar panels and help you pick which one will be right for you.

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 in Franklin:

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
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

See all of the solar companies in Franklin

Factors that Affect Solar Panel Costs in Franklin

There are several factors that can affect your solar system 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

The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require 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 $2,770. There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Franklin to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time because of interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

Finally, the company you get to install your solar panels can affect how much it costs. 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 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 $2.88 $12,099 $10,518 13.4 years
8 kW $2.83 $15,822 $14,334 13.1 years
10 kW $2.77 $19,390 $18,305 12.9 years
12 kW $2.71 $22,803 $22,432 12.6 years
14 kW $2.66 $26,060 $26,713 12.3 years
16 kW $2.60 $29,163 $31,150 12.1 years
18 kW $2.55 $32,110 $35,742 11.8 years
20 kW $2.49 $34,902 $40,489 11.6 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands you have access to, 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: Read the contract terms thoroughly to make sure you understand the overall cost, completion timeline rebates and warranties.
  • Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
  • Solar Panel Brands: The type of solar panel you'd like to get plays a part in which company you should choose, since different companies have access to different panels.
  • Reputation: Make sure your solar 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.

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
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

EcoWatch's Franklin, NJ Solar Cost FAQs

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

The average cost of solar panels in Franklin is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Franklin?

Solar panels aren't free in Franklin, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Does Franklin have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.

What solar power system size is right for my home?

To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.

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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