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
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Average Cost of Solar Panels in Doctor Phillips
Find out what the average cost of solar panels are in Doctor Phillips.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Doctor Phillips, the average cost of solar panels is 3 per watt.The average Doctor Phillips homeowner needs a 5.5-kilowatt system, which would cost about $12,301 with the federal tax credit, or $17,590 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy consumption and what company you go with.Despite the high upfront cost, the average Doctor Phillips homeowner can save around $21,000 on their energy bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI 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
Many homeowners decide to use a solar installation company since trying to install solar panels on your own can be hard. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,210.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, 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 energy bills over many years, but they can also be a significant investment. That’s why many Doctor Phillips homeowners opt to finance their solar panel systems to offset upfront costs.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Doctor Phillips is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to 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 | $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
Since the kind of solar panels and the company you choose considerably impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Warranty: If you’re concerned about the endurance of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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?
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 real cost will depend on stuff like the model 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 get 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 bang for your buck from going solar.
How will solar panels impact my home value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t choose 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 often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.