Solar Panel Cost Guide in Franklin Center, NJ (Mar 2023)
- Franklin Center Solar Installation Cost: $9,191
- 25-Year Savings: $8,660
- Payback Period: 12.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Franklin Center
Find out how much it might cost to switch to solar power in Franklin Center.
The average cost of solar panels in Franklin Center is 2.77 per watt. To cover the typical energy needs of the average home in Franklin Center, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,191, or $13,143 before the federal solar tax credit of 30% is applied.
How much you pay can be above or below the average in Franklin Center based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire. Even with the significant initial cost, the average Franklin Center homeowner can save around $14,000 on their power bills over 20 years, which is one of the advantages of solar.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Franklin Center
| 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 Center
Although it's possible to install solar panels by yourself, it involves extra effort and expertise. That's one of the reasons most homeowners choose a solar panel installer. Companies can also have access to quality options of the best solar panels and help you decide which one will be best for you.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Center
Factors that Affect Solar Panel Costs in Franklin Center
For many Franklin Center homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Franklin Center, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Franklin Center homeowners decide to finance their solar panel systems to make going solar more affordable. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Franklin Center, and each can charge varying amounts for labor and equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that provides the products, warranties and services you're looking for and also fits 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 | $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 panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Contract: Before signing a contract with a solar company, be sure to 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.
- 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.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Center, NJ Solar Cost FAQs
How much does it cost to install solar panels in Franklin Center?
The average cost of solar panels in Franklin Center is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will installing solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Franklin Center is currently $339,993, so you could be looking at a value of about $13,940 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Franklin Center is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.