You need to be aware of several things if you are interested in going solar on your New Hampshire residence. Learn about the cost and payback times for solar panels, leasing options, Tax credits, and more. This information will help you determine if solar panels would be a good fit for your home. Check the regulations to install solar panels on your property.
New Hampshire: Solar panels cost
New Hampshire is not the only state that offers financial incentives for homeowners who invest into solar energy systems. With the federal tax credit, residents can save up to 30% on their solar equipment. Local tax incentives are also available to homeowners who want to save thousands on their solar installations. Use a solar panel calculator to find out which incentives are available in your area.
The cost of installing solar panels varies according to the size of the system as well as the size the home. You can use a solar calculator to get an estimate of the cost of your system and compare prices from local solar installation companies.
Payback period
When deciding whether solar energy systems are worth the investment, it is important that homeowners consider the payback period for solar panel. The basic calculation involves dividing total cost by expected annual production. You will need additional information to accurately calculate the payback. Many solar contractors will offer a spreadsheet-style file that pulls data from multiple sources.
You can reduce your electric bill and make additional income by selling excess energy. The government of New Hampshire has established net metering, a program that provides rebates to residents. Under this program, energy generated by solar customers is sent to the utility grid. The utility company then receives the energy, and credits your electric meter.
Leasing options
New Hampshire's solar panels can be leased for a variety of reasons. The best part is that you can enjoy all of the energy savings straight away without having to pay any interest. And, you'll get the Federal 30% tax credit on your energy bill. If you're thinking about installing solar in your home but aren't sure how to proceed, you can always request a free solar energy consultation, which is 100% free!
Make sure to understand both the pros & cons of each option when deciding between buying or leasing. The cost of purchasing solar panels is higher and you will have to spend more upfront. Leasing requires no down payment and allows you to take advantage of tax credits and rebates.
Tax credits
New Hampshire's tax credits for solar panels are a great option to reduce utility costs and offset the initial expense of a new system. The state's Public Utility Commission offers a rebate for residential renewable electric generation systems. New Hampshire homeowners can receive up $0.20 per watt installed solar power under this program. However, the rebates are only available up to a certain amount, typically $1,000. The rebate program can help homeowners save up to 30% on their total solar system costs.
New Hampshire solar customers may also be eligible for net meters. The electric company will monitor your electricity production and credit any excess to you next bill. The net metering system allows you to let the electricity company know if you produce more energy than you consume. New Hampshire has some the most effective net metering laws. State solar customers are eligible for the 5th highest rebate in the country, which ranges from $750 to $3750/kW. You may also be eligible for additional rebates from local co-ops.