Solar Panel Cost Guide in Franklin Square, NY (2023 Update)
- Franklin Square Solar Installation Cost: $7,950
- 25-Year Savings: $19,121
- Payback Period: 7.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Franklin Square
Here's how much it might cost to go solar in Franklin Square.
Although the national average of solar panels is $2.66 per watt, solar panels in Franklin Square typically cost about 2.95. To account for the typical energy usage of the average home in Franklin Square, most homeowners require a 3.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $7,950, or $11,368 before the federal solar tax credit of 30% is applied.
The actual price you pay can go above or below the average in Franklin Square depending on a few factors, such as the model of solar panels you choose and the solar company you hire. With average savings of about $27,000 on utility bills over 20 years, many homeowners in Franklin Square find investing in solar can be quite rewarding.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Franklin Square
| Year | Return on Investment |
|---|---|
| 1 years | $-6,867 |
| 3 years | $-4,702 |
| 5 years | $-2,536 |
| 7 years | $-370 |
| 9 years | $1,796 |
| 11 years | $3,961 |
| 13 years | $6,127 |
| 15 years | $8,293 |
| 17 years | $10,459 |
| 19 years | $12,624 |
| 21 years | $14,790 |
| 23 years | $16,956 |
| 25 years | $19,121 |
Top Solar Installers in Franklin Square
Although you can install solar panels yourself, it requires extra effort and knowledge. Because of that, almost all homeowners choose to hire a solar panel installer. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Franklin Square
Factors that Affect Solar Panel Costs in Franklin Square
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Franklin Square: 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
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Franklin Square. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Franklin Square, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your total costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Franklin Square, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.07 | $12,886 | $29,322 | 7.6 years |
| 8 kW | $3.01 | $16,850 | $39,426 | 7.5 years |
| 10 kW | $2.95 | $20,650 | $49,696 | 7.3 years |
| 12 kW | $2.89 | $24,284 | $60,130 | 7.2 years |
| 14 kW | $2.83 | $27,754 | $70,730 | 7.0 years |
| 16 kW | $2.77 | $31,058 | $81,496 | 6.9 years |
| 18 kW | $2.71 | $34,196 | $92,426 | 6.8 years |
| 20 kW | $2.66 | $37,170 | $103,521 | 6.6 years |
How to Save on Solar Panels
The company that does your solar system 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 difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Franklin Square, NY Solar Cost FAQs
How much does it cost to install solar panels in Franklin Square?
The average cost of solar panels in Franklin Square is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration 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.
Does Franklin Square have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
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 larger 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.