Edinburgh have also beaten Cardiff Blues and eased to victory over Zebre while the Dragons have suffered three defeats since their opening day win over the new Italian side.
Faletau, along with captain Lewis Evans, was named on the bench last time out against Munster but neither came on.
But Edwards believes both will have a key impact against Edinburgh.
"I think it will make a huge difference," he said.
"Lewis is our team captain and then Toby has got natural game-breaking ability and we will need that on Friday.
"We just need to make sure concentrating on ourselves. We have the raw ability in the team but it's the consistency and actual levels of performance we need to improve.
"You always have to be confident coming into any home game but I think we have to be cautious about this [Edinburgh] team.
"We have got to try and score points against this team. All three teams who have played them recently have struggled to do that."
63x46.png){kind=logo}