Solar Panel Cost Guide in Doctor Phillips, FL (2023 Update)
- Doctor Phillips Solar Installation Cost: $9,687
- 25-Year Savings: $20,678
- Payback Period: 8.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Doctor Phillips
Here's how much it might cost to go solar in Doctor Phillips.
Although the national average of solar panels is $2.66 per watt, solar panels in Doctor Phillips generally cost around 2.53. The average Doctor Phillips homeowner needs a 5.5-kilowatt system, which would cost about $9,687 with the federal tax credit, or $13,852 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of equipment you choose, your solar contractor and more. With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Doctor Phillips find investing in solar has a decent ROI.
You can click the button below to get connected with a pre-vetted solar installer in Doctor Phillips for a quote for your home.
Solar savings over time in Doctor Phillips
| Year | Return on Investment |
|---|---|
| 1 years | $-8,473 |
| 3 years | $-6,044 |
| 5 years | $-3,614 |
| 7 years | $-1,185 |
| 9 years | $1,244 |
| 11 years | $3,673 |
| 13 years | $6,102 |
| 15 years | $8,532 |
| 17 years | $10,961 |
| 19 years | $13,390 |
| 21 years | $15,819 |
| 23 years | $18,248 |
| 25 years | $20,678 |
Top Solar Installers in Doctor Phillips
When going solar, many homeowners choose to hire a solar installation company since handling can be a time-consuming project. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives you can take advantage of and by providing warranties and repairs.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Doctor Phillips:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Doctor Phillips
Factors that Affect Solar Panel Costs in Doctor Phillips
There are a number of factors that can play into your total 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
When it comes to estimating the cost of a solar system in Doctor Phillips, 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 gauge by looking at past electricity bills. Your total cost can increase by about $2,530 for each additional kilowatt you need. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Doctor Phillips homeowners choose to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Doctor Phillips is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services at different costs. Additionally, some companies in Doctor Phillips know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $2.63 | $11,051 | $22,229 | 8.3 years |
| 8 kW | $2.58 | $14,451 | $29,922 | 8.1 years |
| 10 kW | $2.53 | $17,710 | $37,757 | 8.0 years |
| 12 kW | $2.48 | $20,827 | $45,733 | 7.8 years |
| 14 kW | $2.43 | $23,802 | $53,851 | 7.7 years |
| 16 kW | $2.38 | $26,636 | $62,111 | 7.5 years |
| 18 kW | $2.33 | $29,328 | $70,512 | 7.3 years |
| 20 kW | $2.28 | $31,878 | $79,055 | 7.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: If you care about the endurance of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Doctor Phillips, FL Solar Cost FAQs
What is the average cost of installing solar panels in Doctor Phillips?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Doctor Phillips?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Does Doctor Phillips have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.