Solar Panels Cost $19k-$30k in Franklin, TN | October, 2024

Electricity Costs in Franklin, TN & What that Means for Your Solar Panel Pricing

Franklin residents typically consume 1,250 kWh of electricity each month, with bills around $143.57. It’s worth noting that this number accounts for apartments and other smaller dwellings, which generally require lower energy consumption.

In October 2024, the electricity rate in Franklin, TN is on average 11.49¢ per kWh.

In Franklin, a system size of 11 kW or larger is a must for the typical electricity consumer to account for their full energy needs. At this time, an 11 kW solar panel system will initially set you back around $43,560, but the 30% tax credit lowers the cost to $30,492.

Are solar panels worth it in Tennessee?

If your intention is to stay in your home beyond the solar payback period, investing in solar panels is a smart option in Franklin. A 5 kW solar system in Franklin, TN might save you an average of $20,596.8 over 20 years, with the break even point generally being 8 years.

The cost of not having solar panels in Franklin, TN

The absence of solar panels or an alternative energy backup means that you forgo the savings noted earlier and depend on your electric utility for electricity. The news has recently pointed out that complete dependence on your utility isn't always ideal.

Recently, the average number of utility outages per customer in Franklin has been 1.15 annually. Each outage, on average, lasts for 61.23 minutes. In the case of major events like aging infrastructure, earthquakes or planned maintenance, this period can rise substantially.

With or without a backup battery, a solar panel system could mitigate the effects of future power interruptions you might experience.

What impacts the cost of solar panels in Franklin, TN?

Your Energy Needs - Larger solar panel systems have a larger upfront cost, but the cost per watt decreases as the system size expands. Installing a solar panel system that can replace the electric bill is useful to homeowners because of the money saved.

Make & Model - Solar panels and mounting equipment, like many other products, are available in a variety of makes and models. The brand preferences of your selected installer can make it essential to choose a highly rated company. Buyers often find that employing better quality makes and models leads to a more satisfactory long-term experience.

Solar Panel Type - It's no surprise that monocrystalline panels are now the standard in the industry. They come with a higher price, but they provide more energy. Many solar panel installers prefer this type of material.

Your Property - Elements like sloped land, trees, or additional hurdles might complicate the installation process. Solar installers currently have the ability to use satellite images to evaluate your home and incorporate these factors in the preliminary cost estimate.

Labor Rates - The different employee wages paid by companies lead to costs that consumers ultimately bearing . Companies that invest in higher wages often see higher reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which change by area, will impact your installation cost. Reliable installers will factor these costs into your first quotes to prevent unexpected expenses.