Solar Panel Cost Guide in Franklin Park, NJ (2024 Update)

  • Franklin Park Solar Installation Cost: $11,701
  • 25-Year Savings: $8,668
  • Payback Period: 16.4 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

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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 Park

Here’s how much it might cost to make the switch to solar in Franklin Park.

The national average cost of solar panels is $2.66 per watt, but in Franklin Park it’s 4 per watt.The average Franklin Park homeowner needs a 4.7-kilowatt system, which would cost about $11,701 with the federal tax credit, or $16,732 before the 0 tax credit is applied.

Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar system you want to get, your solar contractor and more.With average savings of about $14,000 on energy bills over 20 years, many homeowners in Franklin Park find installing solar panels can be quite rewarding.

To calculate your potential savings and connect with a local solar company, click the button below.

Solar savings over time in Franklin Park

Year Return on Investment
1 years $-10,279
3 years $-7,434
5 years $-4,589
7 years $-1,745
9 years $1,100
11 years $3,945
13 years $6,790
15 years $9,634
17 years $12,479
19 years $15,324
21 years $18,168
23 years $21,013
25 years $23,858

Top Solar Installers in Franklin Park

Many homeowners opt for a solar panel company since installing solar panels yourself can be hard. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over time.

If you're on the hunt for a solar installer in Franklin Park, the EcoWatch team has organized a list of our top suggestions here:

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Franklin Park

Factors that Affect Solar Panel Costs in Franklin Park

Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Franklin Park: 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

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need 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 $3,530.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Franklin Park average.

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 Park homeowners choose to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

A final consideration when trying to figure out the cost of solar for your home or business in Franklin Park is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services at different costs.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 promotions to compete with those larger companies.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.67 $15,419 $7,198 17.0 years
8 kW $3.60 $20,163 $9,993 16.7 years
10 kW $3.53 $24,710 $12,985 16.4 years
12 kW $3.46 $29,059 $16,175 16.1 years
14 kW $3.39 $33,210 $19,563 15.7 years
16 kW $3.32 $37,164 $23,149 15.4 years
18 kW $3.25 $40,920 $26,932 15.1 years
20 kW $3.18 $44,478 $30,913 14.7 years

How to Save on Solar Panels

There are many companies available in Franklin Park, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:

  • Contract: Although reading through a contract can take a lot of time, 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: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
  • Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar company. See to it that you understand how the installation process works and the completion timeline.
  • Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Franklin Park, NJ Solar Cost FAQs

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

The average cost of solar panels in Franklin Park is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Franklin Park?

Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.

Is it worth going solar in Franklin Park?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.

How many solar panels should I get to power my home?

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