Cost of solar in Lakeland, FL

Electricity Consumption in Lakeland

Electricity Consumption by Florida residents averages 1081 kWh per month. It ranks #11 in the nation for savings from installing solar panels on the home.

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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 to find out:

 

Estimate your solar savings

 

Solar power in Florida

The average cost of installing residential solar panels in Lakeland, Florida in 2018 is $3.29 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 $16,450. (before claiming 30% tax credit and other rebates)

What does the cost of a real solar system look like?

Facts about installing a 5.72kW solar system in Lakeland, FL

This system would offset 100% of your energy usage if your typical monthly bill is $114, however your situation may vary so try our solar calculator to get a result tailored to you.

$13,293

Net cost of system
Cash - after 30% solar tax credit

8 Years 2 Months

Average payback time

8,142
kWh

Annual power production


/kWh

levilized cost of solar energy

30¢
/kWh

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 5.72kW system

Life-time savings on this system over the next 25 years

$41,643

(Prices shown after repayments of capital)

 


 

Solar companies in Lakeland, FL that provide pricing through the Solar-Estimate marketplace

38

 


Solar calculator and quote comparison tool

Average total cost of solar panel installation in Florida

System Size Cash purchase
After 30% solar tax credit
Financed purchase
After 30% solar tax credit
3kw $7,560 $8,165
4kw $9,772 $10,554
5kw $11,865 $12,814
6kw $13,818 $14,923
7kw $15,631 $16,881
8kw $17,248 $18,628
9kw $18,774 $20,276
10kw $20,160 $21,773

 

Design your own solar panel system for your home

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:
Incentive Name Eligibility Type
Residential Renewable Energy Tax Credit Federal Personal Tax Credit
Find your local rebates and incentives

Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.