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 generally cost about 4.The average Deming homeowner needs a 5.2-kilowatt system, which would cost about $14,430 with the federal tax credit, or $20,635 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Deming homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Even with the high initial cost, the average Deming homeowner can save around $30,000 on their energy bills over 20 years, which is one of the perks of solar.
To see your potential savings and connect with a local solar company, 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
When switching to solar energy, many homeowners prefer to go with a solar installer since handling can be a time-consuming project. Another great thing about using a top solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Deming average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have 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
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Reputation: Long-standing companies 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 service, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Deming, NM Solar Cost FAQs
How much does it cost to install solar panels in Deming?
The average cost of solar panels in Deming is about $19,650 for a 5-kW system and $39,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Deming?
A solar panel system isn’t free in Deming, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Deming?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you 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 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 cover 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.