Solar Panel Cost Guide in Doctor Phillips, FL (2024 Update)
- Doctor Phillips Solar Installation Cost: $12,301
- 25-Year Savings: $20,670
- Payback Period: 10.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Doctor Phillips
Find out what the average cost of solar panels are in Doctor Phillips.
While the national average of solar panels is $2.66 per watt, solar panels in Doctor Phillips typically cost around 3.To cover the typical energy usage of the average home in Doctor Phillips, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs around $12,301, or $17,590 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Doctor Phillips homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Doctor Phillips can save around $21,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Doctor Phillips
| Year | Return on Investment |
|---|---|
| 1 years | $-10,526 |
| 3 years | $-6,977 |
| 5 years | $-3,427 |
| 7 years | $122 |
| 9 years | $3,672 |
| 11 years | $7,222 |
| 13 years | $10,771 |
| 15 years | $14,321 |
| 17 years | $17,870 |
| 19 years | $21,420 |
| 21 years | $24,969 |
| 23 years | $28,519 |
| 25 years | $32,069 |
Top Solar Installers in Doctor Phillips
Although it's possible to install solar panels on your own, it takes extra energy and expertise. That's why almost all homeowners choose to hire a solar panel installer. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're on the hunt for a solar installer in Doctor Phillips, we've put together a list of our top suggestions here:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Doctor Phillips
Factors that Affect Solar Panel Costs in Doctor Phillips
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Doctor Phillips: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,210. The brand of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they lower your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your total costs, so it’s important to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose will impact your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Doctor Phillips are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $3.34 | $14,021 | $19,259 | 10.5 years |
| 8 kW | $3.27 | $18,336 | $26,038 | 10.3 years |
| 10 kW | $3.21 | $22,470 | $32,997 | 10.1 years |
| 12 kW | $3.15 | $26,425 | $40,135 | 9.9 years |
| 14 kW | $3.08 | $30,200 | $47,453 | 9.7 years |
| 16 kW | $3.02 | $33,795 | $54,952 | 9.5 years |
| 18 kW | $2.95 | $37,210 | $62,629 | 9.3 years |
| 20 kW | $2.89 | $40,446 | $70,487 | 9.1 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 choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: The type of solar panel you need to install plays a part in which installer you should opt for, since different companies have access to different panels.
- Reputation: Your solar installer should have a good reputation as a company and have proven 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 good reviews from past customers.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Doctor Phillips, FL Solar Cost FAQs
What is the average cost of installing solar panels in Doctor Phillips?
The average cost of solar panels in Doctor Phillips is about $16,050 for a 5-kW system and $32,100 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 consume.
Is it better to lease or buy solar panels in Doctor Phillips?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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.
Do solar panels increase your property value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Doctor Phillips?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.