Solar Panel Cost Guide in Franklin, WI (2023 Update)
- Franklin Solar Installation Cost: $12,503
- 25-Year Savings: $28,270
- Payback Period: 7.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Franklin
We go over average solar pricing in Franklin.
The average cost of solar panels in Franklin is 2.6 per watt. To account for the typical energy needs of the average home in Franklin, most homeowners require a 6.9-kilowatt system. Using the figure above, a solar installation costs around $12,503, or $17,879 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy usage and what installation company you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Franklin can save around $23,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Franklin for a quote for your home.
Solar savings over time in Franklin
| Year | Return on Investment |
|---|---|
| 1 years | $-10,872 |
| 3 years | $-7,611 |
| 5 years | $-4,349 |
| 7 years | $-1,087 |
| 9 years | $2,175 |
| 11 years | $5,437 |
| 13 years | $8,699 |
| 15 years | $11,960 |
| 17 years | $15,222 |
| 19 years | $18,484 |
| 21 years | $21,746 |
| 23 years | $25,008 |
| 25 years | $28,270 |
Top Solar Installers in Franklin
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of an installer can make your switch to solar power much easier. Also, if you'd like to maximize your investment in solar, opting for a solar installer can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best Technology
Tesla Energy
- 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
Although the average cost of a solar system in Franklin is $12,503, your final cost may differ. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar system in Franklin, 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 figure out by looking at past electricity bills. Your overall cost can increase by about $2,600 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Franklin, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Franklin to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $2.70 | $11,357 | $24,270 | 8.0 years |
| 8 kW | $2.65 | $14,851 | $32,652 | 7.8 years |
| 10 kW | $2.60 | $18,200 | $41,179 | 7.7 years |
| 12 kW | $2.55 | $21,403 | $49,851 | 7.5 years |
| 14 kW | $2.50 | $24,461 | $58,669 | 7.4 years |
| 16 kW | $2.44 | $27,373 | $67,633 | 7.2 years |
| 18 kW | $2.39 | $30,139 | $76,743 | 7.0 years |
| 20 kW | $2.34 | $32,760 | $85,998 | 6.9 years |
How to Save on Solar Panels
There are many companies available in Franklin, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you care about the durability of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
Best Technology
Tesla Energy
- 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, WI Solar Cost FAQs
How much does it cost to install solar panels in Franklin?
The average cost of solar panels in Franklin is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind 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?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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.
Can you sell solar power back to the grid in Franklin?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.