Solar Panel Cost Guide in Lakeland, FL (2024 Update)
- Lakeland Solar Installation Cost: $12,358
- 25-Year Savings: $16,623
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Lakeland
Here’s how much it might cost to switch to solar power in Lakeland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lakeland, the average cost of solar panels is 3 per watt.To account for the typical energy usage of the average home in Lakeland, 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.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you want, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average Lakeland homeowners see about $19,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Lakeland for a quote for your home.
Solar savings over time in Lakeland
| Year | Return on Investment |
|---|---|
| 1 years | $-11,014 |
| 3 years | $-8,326 |
| 5 years | $-5,638 |
| 7 years | $-2,950 |
| 9 years | $-262 |
| 11 years | $2,426 |
| 13 years | $5,114 |
| 15 years | $7,802 |
| 17 years | $10,491 |
| 19 years | $13,179 |
| 21 years | $15,867 |
| 23 years | $18,555 |
| 25 years | $21,243 |
Top Solar Installers in Lakeland
Many homeowners opt for a solar installation company since trying to put up solar panels by yourself can be a labor-intensive endeavor. Another benefit of going with a solar company is that they can help you optimize your ROI by lowering your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
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 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 Lakeland
Factors that Affect Solar Panel Costs in Lakeland
There are a number of factors that can affect your solar panel 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Lakeland have solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also increases your total costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can impact how much you pay. Lakeland’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $14,739 | 12.2 years |
| 8 kW | $3.27 | $18,336 | $20,011 | 12.0 years |
| 10 kW | $3.21 | $22,470 | $25,463 | 11.7 years |
| 12 kW | $3.15 | $26,425 | $31,095 | 11.5 years |
| 14 kW | $3.08 | $30,200 | $36,907 | 11.3 years |
| 16 kW | $3.02 | $33,795 | $42,899 | 11.0 years |
| 18 kW | $2.95 | $37,210 | $49,070 | 10.8 years |
| 20 kW | $2.89 | $40,446 | $55,421 | 10.5 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly influences 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:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
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 Lakeland, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lakeland?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Lakeland?
You can’t get solar panels for free in Lakeland. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Lakeland, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.