Solar Panel Cost Guide in Davenport, FL (2024 Update)
- Davenport Solar Installation Cost: $12,358
- 25-Year Savings: $23,684
- Payback Period: 9.2 Years
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Average Cost of Solar Panels in Davenport
Find out what the average cost of installing solar panels is in Davenport.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Davenport, the average cost of solar panels is 3 per watt.To account for the typical energy usage of the average home in Davenport, most homeowners require a 5.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,358, or $17,672 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Davenport homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $24,000 on power bills over 20 years, many homeowners in Davenport find going solar can be quite rewarding.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Davenport
| Year | Return on Investment |
|---|---|
| 1 years | $-10,583 |
| 3 years | $-7,034 |
| 5 years | $-3,484 |
| 7 years | $65 |
| 9 years | $3,615 |
| 11 years | $7,164 |
| 13 years | $10,714 |
| 15 years | $14,264 |
| 17 years | $17,813 |
| 19 years | $21,363 |
| 21 years | $24,912 |
| 23 years | $28,462 |
| 25 years | $32,011 |
Top Solar Installers in Davenport
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using an installer can make switching to solar power much easier. Some solar installers, especially local ones, can help you make the most of incentives in Davenport, thereby optimizing your ROI.
If you’d like to go solar but still aren’t certain which solar system company to go with, here are our recommendations for providers near you:
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 Davenport
Factors that Affect Solar Panel Costs in Davenport
Although the average cost of a solar system in Davenport is $12,358, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,210. The type of solar panels and equipment you want is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Davenport homeowners decide to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also adds to your overall costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can impact the cost. Davenport’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also is within your budget.
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 | $22,442 | 9.6 years |
| 8 kW | $3.27 | $18,336 | $30,283 | 9.4 years |
| 10 kW | $3.21 | $22,470 | $38,303 | 9.2 years |
| 12 kW | $3.15 | $26,425 | $46,503 | 9.1 years |
| 14 kW | $3.08 | $30,200 | $54,882 | 8.9 years |
| 16 kW | $3.02 | $33,795 | $63,442 | 8.7 years |
| 18 kW | $2.95 | $37,210 | $72,181 | 8.5 years |
| 20 kW | $2.89 | $40,446 | $81,100 | 8.3 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Contract: Before signing a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
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 Davenport, FL Solar Cost FAQs
What is the average cost of installing solar panels in Davenport?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Davenport?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Davenport is currently $367,259, which means you can look forward to a value of about $15,058 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Davenport is a rewarding investment.
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 decreases 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.