Solar Panel Cost Guide in Franklin Square, NY (2024 Update)
- Franklin Square Solar Installation Cost: $9,833
- 25-Year Savings: $19,125
- Payback Period: 9.1 Years
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Average Cost of Solar Panels in Franklin Square
Here’s how much it might cost to make the switch to solar in Franklin Square.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Franklin Square, the typical cost of solar panels is 4 per watt.The average solar panel system size in Franklin Square is around 3.8 kilowatts, meaning a cost of about $9,833 for a solar installation, or $14,061 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary based on several factors, such as what size system you need, your energy usage and what installation company you go with.Despite the large initial cost, the average Franklin Square homeowner can save about $27,000 on their power bills over 20 years, which is one of the benefits of solar.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Franklin Square
| Year | Return on Investment |
|---|---|
| 1 years | $-8,041 |
| 3 years | $-4,459 |
| 5 years | $-877 |
| 7 years | $2,705 |
| 9 years | $6,287 |
| 11 years | $9,870 |
| 13 years | $13,452 |
| 15 years | $17,034 |
| 17 years | $20,616 |
| 19 years | $24,198 |
| 21 years | $27,781 |
| 23 years | $31,363 |
| 25 years | $34,945 |
Top Solar Installers in Franklin Square
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make converting to solar power much easier. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're searching for a solar installer in Franklin Square, the EcoWatch team has put together a list of our top suggestions here:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 Square
Factors that Affect Solar Panel Costs in Franklin Square
The cost of installing a solar system in Franklin Square can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Franklin Square, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.The model of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Franklin Square homeowners decide to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating in Franklin Square, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that has 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 | $3.80 | $15,943 | $26,264 | 9.4 years |
| 8 kW | $3.72 | $20,849 | $35,428 | 9.3 years |
| 10 kW | $3.65 | $25,550 | $44,796 | 9.1 years |
| 12 kW | $3.58 | $30,047 | $54,368 | 8.9 years |
| 14 kW | $3.50 | $34,339 | $64,145 | 8.7 years |
| 16 kW | $3.43 | $38,427 | $74,126 | 8.5 years |
| 18 kW | $3.36 | $42,311 | $84,311 | 8.4 years |
| 20 kW | $3.29 | $45,990 | $94,701 | 8.2 years |
How to Save on Solar Panels
The company that does your 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 difficult, we have some tips to help you, such as:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Franklin Square, NY Solar Cost FAQs
What is the average cost of installing solar panels in Franklin Square?
The average cost of solar panels in Franklin Square is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Franklin Square?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside 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 option if you want to get the most savings.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Franklin Square, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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 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.