New Hampshire

New Hampshire Solar Incentives and Rebates

New Hampshire residents who are looking to install solar panels on their property have a variety of incentives and rebates available to them. These incentives are designed to make solar energy more accessible and affordable, making it easier for homeowners to transition to clean, renewable energy.

The Federal Investment Tax Credit in New Hampshire

One of the most significant incentives available to New Hampshire residents is the Federal Investment Tax Credit (ITC). This credit allows homeowners to deduct 22% of the cost of their solar energy system from their federal taxes. This can be a significant savings, especially for those who are looking to install a large solar array.

State-Level Tax Incentives in New Hampshire

New Hampshire does not currently offer any state-level incentives for solar energy. According to the New Hampshire Public Utilities Commission, the state does not currently have any programs or initiatives in place to promote the use of solar energy. However, this does not mean that there are no incentives available to residents.

State-wide solar initiatives in New Hampshire

New Hampshire Solar Rebate

New Hampshire residents can take advantage of the New Hampshire Solar Rebate program. This program provides a rebate of $1,000 for the installation of a solar energy system on a single-family home, or $2,000 for the installation of a solar energy system on a multi-family home.

Energy Storage Rebate

New Hampshire residents can also take advantage of the Energy Storage Rebate program. This program provides a rebate of $1,000 for the installation of an energy storage system in conjunction with a solar energy system.

Renewable Energy Certificate (REC)

The Renewable Energy Certificate (REC) program allows residents to earn credits for each unit of energy they produce from their solar energy systems. These credits can then be sold to utilities to help offset the cost of the solar energy system.

Residential Solar Water Heating Rebate Program

New Hampshire also has a Residential Solar Water Heating Rebate Program which provides a rebate of $1,500-$1,900 for the installation of a solar water heating system.

Performance-based incentives (PBI) for home solar customers who install energy storage systems

Another incentive that is available is a Performance-based incentives (PBI) for home solar customers who install energy storage systems. This program compensates homeowners for each kilowatt-hour of energy that their solar energy system produces.

Residential Small Renewable Energy Rebate Program

The Residential Small Renewable Energy Rebate Program provides a rebate of $200 per kilowatt, up to $1,000 or 30% of the total solar energy system cost.

Eversource ConnectedSolutions Energy Storage Rebate

Additionally, New Hampshire has Eversource ConnectedSolutions Energy Storage Rebate which compensates homeowners for sharing energy storage with the utility during high-demand hours.

Solar Water Heating Rebate Program

This program provides a rebate of $1,500-$1,900 for the installation of a solar water heating system.

Modified Accelerated Cost Recovery System (MACRS)

It’s important to note that New Hampshire does not conform to State rules on Modified Accelerated Cost Recovery System (MACRS) which allows for accelerated depreciation.

State-wide tax exemptions in New Hampshire

New Hampshire does not offer any state-wide tax exemptions for solar energy systems. However, all homeowners who install solar PV systems are eligible for the 22% Federal Investment Tax Credit.

Solar Easements in New Hampshire

New Hampshire does not have any specific laws on solar easements, which are legal agreements that allow homeowners to access sunlight on neighboring properties to power their solar panels.

Net Metering in New Hampshire

The power generated by solar panels in New Hampshire is credited through net metering. This program allows homeowners to receive credit on their utility bill for any excess energy that their solar panels produce.

Benefits of going solar in New Hampshire

Going solar in New Hampshire has several benefits for homeowners. One of the main benefits is the ability to save money on electricity bills over time. Additionally, solar energy systems can increase property value and improve home resale value. Furthermore, homeowners are eligible for the 22% Federal Investment Tax Credit, which allows them to deduct a portion of the cost of their solar energy system from their federal taxes.

Conclusion

In conclusion, New Hampshire residents have a variety of state-wide solar initiatives and federal tax credit that they can take advantage of to install solar panels on their property. These incentives are designed to make solar energy more accessible and affordable, making it easier for homeowners to transition to clean, renewable energy. 

FAQs

The average cost of solar energy in New Hampshire varies depending on the size of the system, location, and other factors. Generally, the cost of a solar system in New Hampshire ranges from $3 to $5 per watt.

Yes, there are several incentives and rebates available to help offset the cost of installing solar in New Hampshire. These include the Renewable Energy Fund, Solar Rebate Program, and Solar Renewable Energy Credit (SREC) program.

Solar energy can produce up to 4.1 kWh/m2 per day in New Hampshire.

Most roofs are suitable for installing solar in New Hampshire. However, it is important to check with your installer to ensure that your roof can support the weight of the solar system. Find expert reviews of solar installers in New Hampshire at SolarEmpower.

The time to install a solar system in New Hampshire varies depending on the size and complexity of the system, but generally, a typical installation can take 2-4 days.