I think it might be too much. Of course, the best way to tell is to use a thermometer and monitor the temperatures religiously for a while. The basking spot should reach 90F and the rest of the cage should range from 80-85 during the day, dropping to 75 at night. If it gets hotter than that, you know it is too much.

PS: that size cage is too small for the size of lizard you've got.