Solar Panel Cost Guide in Deming, NM (2024 Update)
- Deming Solar Installation Cost: $14,430
- 25-Year Savings: $31,342
- Payback Period: 8.8 Years
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Average Cost of Solar Panels in Deming
Let’s take a look at the average cost of solar in Deming.
While the national average of solar panels is $2.66 per watt, solar panels in Deming typically cost around 4.Since a 5.2-kW system is needed to cover the energy needs of a typical home in Deming, the average price of going solar will be about $14,430 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Deming homeowner. The cost 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.Despite the high initial cost, the average Deming homeowner can save about $30,000 on their power bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Deming
| Year | Return on Investment |
|---|---|
| 1 years | $-13,473 |
| 3 years | $-11,558 |
| 5 years | $-9,642 |
| 7 years | $-7,727 |
| 9 years | $-5,812 |
| 11 years | $-3,897 |
| 13 years | $-1,982 |
| 15 years | $-67 |
| 17 years | $1,848 |
| 19 years | $3,763 |
| 21 years | $5,679 |
| 23 years | $7,594 |
| 25 years | $9,509 |
Top Solar Installers in Deming
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using an installer can make converting to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar contractor too, which can save you more money after your upfront investment.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Deming
Factors that Affect Solar Panel Costs in Deming
The cost of installing a solar system in Deming can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $3,930 per kilowatt in Deming.There are a lot of different solar panel brands and the one you pick also affects the cost. In general, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Deming, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Deming is the company you hire to install your solar panel system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services at different price points.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.09 | $17,166 | $29,940 | 9.1 years |
| 8 kW | $4.01 | $22,448 | $40,360 | 8.9 years |
| 10 kW | $3.93 | $27,510 | $51,000 | 8.8 years |
| 12 kW | $3.85 | $32,352 | $61,860 | 8.6 years |
| 14 kW | $3.77 | $36,973 | $72,941 | 8.4 years |
| 16 kW | $3.69 | $41,375 | $84,241 | 8.2 years |
| 18 kW | $3.62 | $45,557 | $95,761 | 8.1 years |
| 20 kW | $3.54 | $49,518 | $107,502 | 7.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose significantly influences 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:
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: The kind of solar panel you need plays a part in which installer you should go with, since different companies offer different panels.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of 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 good reviews from past customers.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Deming, NM Solar Cost FAQs
How much does it cost to install solar panels in Deming?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $19,650 for a 5-kW system and $39,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Deming?
You can’t get solar panels for free in Deming. 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 rather own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a 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 install 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.