Solar power in Lakeland, Florida
Going solar with Lakeland Electric is unique compared to most of Florida since they aren't an IOU (Investor Owned Utility). Lakeland Electric is required to credit you for excess solar generation exported to their grid however they are not required to write you a check at the end of the 12 month cycle if you export more than you receive. At least Lakeland Electric does allow you to wipe out your power bill easily but not far beyond that. There is also the 30% federal tax credit so solar is still an excellent investment.
Florida is very unique in that it has an excellent PACE program which local governments may follow allowing participants to pay off their solar system through their property taxes. This is basically a lease/PPA without the sense of responsibility because if you move house the new owner pays for it through their property taxes. PACE is excellent for those who don't know how long they will be in their current home but for the most savings from going solar being a cash buyer is much better. If cash is not an option perhaps a HELOC (Home Equity Line of Credit) at home loan interest rates of around 4% P.A. With a HELOC you can approach your solar company as a cash buyer and receive a much better price.
Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator for Lakeland to find out:
- How many solar panels you need to cover your power bill;
- How suitable your house is for solar;
- What incentives your house may be eligible for;
- The cost of solar panel installation in Lakeland and whether you are eligible for zero down solar deals; and
- Your likely payback period and return on investment from installing solar
Estimate your solar savings
The average cost of installing residential solar panels in Lakeland, Florida in 2020 is $2.65 per watt. The average system size in the US is 6 kilowatts, which means the average price of a solar system in Lakeland, FL is $13,250. (before claiming 26% tax credit and other rebates)
What does the cost of a real solar system look like?
Facts about installing a 11.24kW solar system in Lakeland, FL
This system would offset 100% of your energy usage if your typical monthly bill is $224, however your situation may vary so try our Lakeland solar calculator to get a result tailored to you.
Net cost of system
Cash - after 26% solar tax credit
6 Years 7 Months
Average payback time
Annual power production
levilized cost of solar energy
If you don't get solar
The forecast average utility price over the next 25 years
Cash flow graph based on cash purchase of this 11.24kW system
Life-time savings on this system over the next 25 years
(Prices shown after repayments of capital)
Solar companies in Lakeland, FL that provide pricing through the Solar-Estimate marketplace
Average total cost of solar panel installation in Florida
|System Size||Cash purchase
After 26% solar tax credit
After 26% solar tax credit
Going solar in Florida
Check out all of the ways energy providers of Florida can help you be more energy efficient and save money.
The following programs are available:
|Residential Renewable Energy Tax Credit||Federal||Personal Tax Credit|
|Solar and CHP Sales Tax Exemption||State||Sales Tax Incentive|
|Property Tax Abatement for Renewable Energy Property||State||Property Tax Incentive|
|PACE Loans||State||Loan Program|
|SELF Loans||State||Loan Program|
|Net Metering||State||Net Metering|
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.