Solar Panel Cost Guide in Lakeland Highlands, FL (2024 Update)
- Lakeland Highlands Solar Installation Cost: $12,358
- 25-Year Savings: $16,156
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Lakeland Highlands
See how much it might cost to go solar in Lakeland Highlands.
The average cost of solar panels in Lakeland Highlands is 3 per watt.To cover the typical energy needs of the average home in Lakeland Highlands, most homeowners require a 5.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,358, or $17,672 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what solar installer you go with.With average savings of about $19,000 on utility bills over 20 years, many homeowners in Lakeland Highlands find investing in solar can pay off big.
To receive a free quote from a top solar installer in Lakeland Highlands, you can click the button below.
Solar savings over time in Lakeland Highlands
| Year | Return on Investment |
|---|---|
| 1 years | $-11,033 |
| 3 years | $-8,382 |
| 5 years | $-5,731 |
| 7 years | $-3,081 |
| 9 years | $-430 |
| 11 years | $2,221 |
| 13 years | $4,871 |
| 15 years | $7,522 |
| 17 years | $10,173 |
| 19 years | $12,824 |
| 21 years | $15,474 |
| 23 years | $18,125 |
| 25 years | $20,776 |
Top Solar Installers in Lakeland Highlands
When going solar, many homeowners decide to go with a solar installation company since handling can be a time-consuming project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're searching for a solar installer in Lakeland Highlands, the EcoWatch team has organized 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 Lakeland Highlands
Factors that Affect Solar Panel Costs in Lakeland Highlands
There are many criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,210. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Lakeland Highlands average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, 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 more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Lakeland Highlands, and each can charge varying amounts for labor and equipment.Additionally, some companies in Lakeland Highlands are more knowledgeable about local solar incentives and can help you take advantage 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 | $14,230 | 12.4 years |
| 8 kW | $3.27 | $18,336 | $19,333 | 12.2 years |
| 10 kW | $3.21 | $22,470 | $24,615 | 11.9 years |
| 12 kW | $3.15 | $26,425 | $30,077 | 11.7 years |
| 14 kW | $3.08 | $30,200 | $35,719 | 11.5 years |
| 16 kW | $3.02 | $33,795 | $41,541 | 11.2 years |
| 18 kW | $2.95 | $37,210 | $47,543 | 11.0 years |
| 20 kW | $2.89 | $40,446 | $53,724 | 10.7 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Your solar installer should have a solid 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Warranty: If you’re concerned about the endurance of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Highlands, FL Solar Cost FAQs
How much does it cost to install solar panels in Lakeland Highlands?
This is a hard question to answer exactly, because the cost depends on many 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 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.
Are solar panels free in Lakeland Highlands?
You can’t get solar panels for free in Lakeland Highlands. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Lakeland Highlands, 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.
How many solar panels should I get to power my home?
To figure out how many solar panels 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 typically 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.