Solar Panel Cost Guide in Franklin, OH (Dec 2022)

  • Franklin Solar Installation Cost: $13,332
  • 25-Year Savings: $11,527
  • Payback Period: 13.4 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Franklin

See how much it might cost to go solar in Franklin.

While the national average of solar panels is $2.66 per watt, solar panels in Franklin typically cost around $3. The average solar panel system size in Franklin is around 7.4 kilowatts, meaning a cost of about $13,332 for a solar installation, or $9,866 after the 30% federal solar tax credit is applied.

These figures are only estimates, and the cost of going solar for you may vary based on the amount of energy your home requires and what company you choose to go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $13,000 over 20 years on electricity bills.

For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Franklin

Year Return on Investment
1 years $-12,338
3 years $-10,349
5 years $-8,361
7 years $-6,372
9 years $-4,383
11 years $-2,394
13 years $-406
15 years $1,583
17 years $3,572
19 years $5,561
21 years $7,550
23 years $9,538
25 years $11,527

Top Solar Installers in Franklin

Although you can install solar panels by yourself, it takes extra effort and know-how. For that reason, most people choose to go with a solar panel installer. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.

If you'd like to start using solar energy but still aren't certain which solar company to go with, here are our recommendations for providers 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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
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

Factors that Affect Solar Panel Costs in Franklin

The cost of installing a solar system in Franklin can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

System size is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to think 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 falls within your budget.

Solar Financing Terms

If paying for solar panels out of pocket is difficult, solar loans are a solid option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

Lastly, the company you hire to install your solar system can impact the cost. Franklin's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.66 $11,182 $8,876 13.9 years
8 kW $2.61 $14,623 $12,121 13.7 years
10 kW $2.56 $17,920 $15,510 13.4 years
12 kW $2.51 $21,074 $19,041 13.1 years
14 kW $2.46 $24,084 $22,717 12.9 years
16 kW $2.41 $26,952 $26,536 12.6 years
18 kW $2.36 $29,676 $30,498 12.3 years
20 kW $2.30 $32,256 $34,603 12.1 years

How to Save on Solar Panels

There are a large number of companies to choose from in Franklin, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:

  • Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
  • Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
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, OH Solar Cost FAQs

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

This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Franklin?

Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

Does Franklin have a net metering program?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.

How many solar panels do I need to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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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