Solar Panel Cost Guide in Lake City, FL (2024 Update)

  • Lake City Solar Installation Cost: $12,942
  • 25-Year Savings: $21,111
  • Payback Period: 10.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lake City

We break down average solar pricing in Lake City.

The average cost of a solar panel system in Lake City is 3 per watt.Because a 5.8-kW system is needed to cover the energy consumption of a typical home in Lake City, the average price of going solar will be about $12,942 after claiming the federal solar tax credit of 0.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with.But, after you've paid the initial cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $21,000 over 20 years on energy bills.

For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Lake City

Year Return on Investment
1 years $-11,569
3 years $-8,821
5 years $-6,074
7 years $-3,327
9 years $-580
11 years $2,168
13 years $4,915
15 years $7,662
17 years $10,409
19 years $13,157
21 years $15,904
23 years $18,651
25 years $21,398

Top Solar Installers in Lake City

Installing solar panels by yourself can be a difficult project, which is why getting a solar installation company is a good option for many homeowners. Some solar companies, especially local ones, can help you take advantage of incentives in Lake City, therefore optimizing your ROI.

You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Lake City:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 Lake City

Factors that Affect Solar Panel Costs in Lake City

Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Lake City: 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 energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,210. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that are more efficient tend to also cost more. In addition, 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 Lake City have solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of financing options, including the total 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 remarkably.

Solar Panel Installation Company

Lastly, the company you hire to install your solar panels can impact how much you pay. Lake City’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.

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 $18,596 10.7 years
8 kW $3.27 $18,336 $25,154 10.5 years
10 kW $3.21 $22,470 $31,892 10.3 years
12 kW $3.15 $26,425 $38,810 10.1 years
14 kW $3.08 $30,200 $45,907 9.9 years
16 kW $3.02 $33,795 $53,184 9.7 years
18 kW $2.95 $37,210 $60,641 9.5 years
20 kW $2.89 $40,446 $68,278 9.3 years

How to Save on Solar Panels

There are a large number of companies to choose from in Lake City, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:

  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before deciding.
  • Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
  • Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's Lake City, FL Solar Cost FAQs

What is the average cost of installing solar panels in Lake City?

This is a hard question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

What other factors should I consider other than cost when buying solar panels?

Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

How much can I save on energy bills after switching to solar?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Lake City, 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 contact a local solar installer to see how many panels can fit on your roof.

How many solar panels should I get to power 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 generally 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.

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