Solar Panel Cost Guide in Franklin, VA (2024 Update)
- Franklin Solar Installation Cost: $19,344
- 25-Year Savings: $4,313
- Payback Period: 25.3 Years
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Average Cost of Solar Panels in Franklin
Here’s how much it might cost to install solar panels in Franklin.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Franklin, the typical cost of a solar system is 4 per watt.The average Franklin homeowner needs a 7.7-kilowatt system, which would cost about $19,344 with the federal tax credit, or $27,662 before the 0 tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely differ based on your specific situation and what company you go with.But, after you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $9,900 over 20 years on utility bills.
For a customized 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
| Year | Return on Investment |
|---|---|
| 1 years | $-17,745 |
| 3 years | $-14,548 |
| 5 years | $-11,350 |
| 7 years | $-8,152 |
| 9 years | $-4,954 |
| 11 years | $-1,756 |
| 13 years | $1,442 |
| 15 years | $4,640 |
| 17 years | $7,838 |
| 19 years | $11,035 |
| 21 years | $14,233 |
| 23 years | $17,431 |
| 25 years | $20,629 |
Top Solar Installers in Franklin
Trying to put up solar panels yourself can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your family.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Franklin
Factors that Affect Solar Panel Costs in Franklin
There are a number of factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.There are many different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Franklin provide solar loans, which reduce your upfront costs of installing solar.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Franklin is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that provide a range of services at different price points.Additionally, some companies in Franklin know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.73 | $15,681 | $-770 | 26.3 years |
| 8 kW | $3.66 | $20,506 | $-624 | 25.8 years |
| 10 kW | $3.59 | $25,130 | $-278 | 25.3 years |
| 12 kW | $3.52 | $29,553 | $270 | 24.8 years |
| 14 kW | $3.45 | $33,775 | $1,019 | 24.3 years |
| 16 kW | $3.37 | $37,796 | $1,968 | 23.8 years |
| 18 kW | $3.30 | $41,615 | $3,119 | 23.3 years |
| 20 kW | $3.23 | $45,234 | $4,471 | 22.8 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. Since picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the project completion timeline.
- Contract: Before you sign a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Franklin, VA Solar Cost FAQs
How much does it cost to install solar panels in Franklin?
The average cost of solar panels in Franklin is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors 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 thing to consider when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.