Solar Panel Cost Guide in Deming, NM (Mar 2023)
- Deming Solar Installation Cost: $9,849
- 25-Year Savings: $31,334
- Payback Period: 6.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Deming
Find out what the average cost of solar panel installation is in Deming.
The national average cost of solar panels is $2.66 per watt, but in Deming it's 2.68 per watt. The average solar panel system size in Deming is around 5.2 kilowatts, meaning a cost of about $9,849 for a solar installation, or $14,084 before the 30% federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Deming based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Deming can save around $30,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar installer in Deming that can help you get a more accurate cost estimate for your home.
Solar savings over time in Deming
| Year | Return on Investment |
|---|---|
| 1 years | $-8,202 |
| 3 years | $-4,907 |
| 5 years | $-1,612 |
| 7 years | $1,682 |
| 9 years | $4,977 |
| 11 years | $8,271 |
| 13 years | $11,566 |
| 15 years | $14,860 |
| 17 years | $18,155 |
| 19 years | $21,450 |
| 21 years | $24,744 |
| 23 years | $28,039 |
| 25 years | $31,334 |
Top Solar Installers in Deming
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make your switch to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Deming
Factors that Affect Solar Panel Costs in Deming
For many Deming homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Deming, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater 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 $2,680. There are many different solar panel brands and the one you choose also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Deming to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time because of interest. 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 can only 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 getting a solar loan with a low interest rate could reduce your costs considerably.
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 operating in Deming, and each can charge different amounts for labor and equipment. Additionally, some companies in Deming are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.79 | $11,706 | $35,400 | 6.2 years |
| 8 kW | $2.73 | $15,308 | $47,500 | 6.1 years |
| 10 kW | $2.68 | $18,760 | $59,750 | 6.0 years |
| 12 kW | $2.63 | $22,062 | $72,150 | 5.9 years |
| 14 kW | $2.57 | $25,213 | $84,701 | 5.7 years |
| 16 kW | $2.52 | $28,215 | $97,401 | 5.6 years |
| 18 kW | $2.47 | $31,067 | $110,251 | 5.5 years |
| 20 kW | $2.41 | $33,768 | $123,252 | 5.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Deming, NM Solar Cost FAQs
How much does it cost to install solar panels in Deming?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Deming?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.