Solar Panel Cost Guide in Franklin Center, NJ (Oct 2022)

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

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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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 $3 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 $6,801 after 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 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

The Green Panel

★★★★★
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 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 Size

The size of the system you need 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

Solar Incentives in Franklin Center

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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 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

The Green Panel

★★★★★
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 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 things 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 definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Is making the switch to solar worth it?

Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.

How long do solar panels last in Franklin Center?

On average, the lifespan of solar panels is 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 level 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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