Solar Panel Cost Guide in New Franklin, OH (2024 Update)
- New Franklin Solar Installation Cost: $18,650
- 25-Year Savings: $12,436
- Payback Period: 17.6 Years
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Average Cost of Solar Panels in New Franklin
Find out what the average cost of solar panel installation is in New Franklin.
The average cost of solar panels in New Franklin is 3 per watt.To cover the typical energy needs of the average home in New Franklin, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs about $18,650, or $26,670 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of solar system you choose, your solar contractor and more.Even with the large initial cost, the average New Franklin homeowner can save about $13,000 on their energy bills over 20 years, which is one of the perks of solar.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in New Franklin
| Year | Return on Investment |
|---|---|
| 1 years | $-17,430 |
| 3 years | $-14,989 |
| 5 years | $-12,549 |
| 7 years | $-10,108 |
| 9 years | $-7,668 |
| 11 years | $-5,227 |
| 13 years | $-2,787 |
| 15 years | $-346 |
| 17 years | $2,094 |
| 19 years | $4,535 |
| 21 years | $6,975 |
| 23 years | $9,416 |
| 25 years | $11,856 |
Top Solar Installers in New Franklin
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar company can make swapping over to solar power much easier. Another upside of going with a solar installer is that they can help you make the most of your ROI by cutting back on future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you're searching for a solar company in New Franklin, we've organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in New Franklin
Factors that Affect Solar Panel Costs in New Franklin
The cost of installing a solar system in New Franklin can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in New Franklin, one of the most crucial 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 usage, which you can determine by looking at past energy bills. Your overall cost can increase by around $3,410 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in New Franklin provide solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also increases your total costs, so it’s important to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in New Franklin, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $3.55 | $14,895 | $5,407 | 18.3 years |
| 8 kW | $3.48 | $19,478 | $7,592 | 18.0 years |
| 10 kW | $3.41 | $23,870 | $9,967 | 17.6 years |
| 12 kW | $3.34 | $28,071 | $12,534 | 17.3 years |
| 14 kW | $3.27 | $32,081 | $15,291 | 16.9 years |
| 16 kW | $3.21 | $35,900 | $18,239 | 16.6 years |
| 18 kW | $3.14 | $39,529 | $21,378 | 16.2 years |
| 20 kW | $3.07 | $42,966 | $24,708 | 15.9 years |
How to Save on Solar Panels
There are many companies to choose from in New Franklin, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's New Franklin, OH Solar Cost FAQs
How much does it cost to install solar panels in New Franklin?
The average cost of solar panels in New Franklin is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in New Franklin?
You can’t get solar panels for free in New Franklin. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout New Franklin, 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 check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.