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
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Average Cost of Solar Panels in Lake City
We break down average solar pricing in Lake City.
Although the national average of solar panels is $2.66 per watt, solar panels in Lake City typically cost about 3.Because a 5.8-kW system is needed to cover the energy needs 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.
Keep in mind that the figures above are only estimates based on the average energy use of Lake City homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Lake City can save about $21,000 on their energy bills over 20 years.
Click the button below to get connected to a reputable solar panel company in Lake City for a customized quote.
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
Many homeowners opt for a solar installation company since figuring out how to install solar panels on your own can be a labor-intensive endeavor. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
If you’d like to make the switch to solar but still aren’t sure which solar panel company to go with, here are our recommendations for providers nearby:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Lake City
Factors that Affect Solar Panel Costs in Lake City
There are a number of criteria that can play into your solar panel 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 cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,210.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Lake City provide solar loans, which reduce the initial cost of installing solar.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Lake City, and each can charge different amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also fits within your budget.
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
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Lake City, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lake City?
This is a difficult question to answer exactly, because the cost depends on a few different 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 additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Lake City, that will require at least a 10-kW system. Not all homes will have the roof space for 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 do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.