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New Hampshire Solar Incentives: Why Go Solar in NH?

As the world shifts towards eco-friendliness, you may see friends, neighbors, and businesses in your area going solar. You might also be thinking about making the switch, especially if you know about New Hampshire solar incentives and tax credits for solar panels.

It’s no secret that solar power is better for the planet. It’s also no secret that it can be costly, and a bit overwhelming of a decision for your home. Here’s a guide to how solar can actually put more money in your pocket through rebates and incentives in New Hampshire.

Is Solar a Good Investment?

New Hampshire solar incentives and New Hampshire tax credit for solar panels: here's what you need to know

Before discussing the incentives, it’s important to understand why solar alone can help you save in the long run.

One big roadblock a lot of people have to go solar is the cost. A PV system is an investment, and it can be hard to shell that money out when you’re on a budget and unsure about ROI.

Plenty of companies offer financing options for their solar energy systems, so that may make the initial cost easier. On average, users of PV systems see a return on their investment 2-3 years along the way. This can come in the form of saved energy bills, net metering programs, and tax credit for solar panels.

PV systems also increase property value. If you were to sell your home, it’d likely sell for over $14,000 more, based on a study by the Lawrence Berkeley National Laboratory. Your home will be more desirable, because with good solar panels, the next residents will get all the same benefits and savings you got.

New Hampshire Solar Incentives

There are many different tax credits for solar panels and New Hampshire solar incentives. Here’s a list of the possibilities:

  • NH Property Tax Exemption
  • Residential Renewable Electrical Generation Rebate Program
  • Federal Investment Tax Credit
  • Low-Income Financing Program
  • New Hampshire Net Metering

Property Tax Exemption

When you switch to solar energy, not only will you save on your monthly electric bills, but there’s an additional perk. In over 80 NH towns, you’ll save on property taxes, since you won’t have to pay for the value the PV system lends to your home.

It’s a sweet incentive that makes going solar even more appealing! So, whether you’re a homeowner or a local business owner, going solar can bring you both environmental and financial benefits.

Residential Renewable Electrical Generation Rebate Program

Along with saving on property taxes, the state of New Hampshire also offers rebate programs that assist with energy costs and reward you for going green. With the Residential Renewable Electrical Generation Rebate Program, you can save 30% of your energy bills, or $200 per kilowatt up to $1,000 (the lower of the two).

Solar Tax Credit

The federal solar tax credit is a fantastic incentive provided by the U.S. government to encourage people to go solar. If you install a solar energy system for your home or business between 2022-2032, you can get a credit equal to 30% of the total installation cost. The percentage is set to decrease after 2032, so it’s best to take advantage of it sooner rather than later.

You can even combine it with other local incentives for more savings. Just make sure to consult a tax professional to understand how it applies to your situation. It’s a great way to support clean energy and save some money at the same time!

Low-Income Financing

If you’re a homeowner facing challenges with high energy costs, New Hampshire’s Low-Income Home Energy Assistance Program (LIHEAP) may be able to help you out. Combining a solar lease or loan with financial support can help make solar energy more accessible and affordable to more homes across the state. For more information and to find out if you qualify, learn more here.

Net Metering in New Hampshire

Net metering is another great program to take advantage of among the other solar incentives in New Hampshire. Solar net metering is a billing arrangement that allows solar panel owners to get credit for the extra electricity their solar panels produce and send back to the grid.

When your solar panels generate more power than you use, the excess electricity goes to the grid, and you receive credits on your electricity bill. These credits can be used when your panels aren’t generating enough, like at night or on cloudy days. It’s a great way to save money, promote clean energy, and reduce your reliance on the grid.

Solar power systems under 1 megawatt are eligible for bill credits after giving their extra energy to the grid. New Hampshire residents popularly use Eversource for net metering.

To easily qualify for New Hampshire solar incentives, make sure to work with a trusted service so you can apply and get approved for everything before installation begins.

How To Go Solar and Make Sure It Lasts

Every company is different when it comes to installation, so make sure to do your research. At Energy Shield, our process begins with a consultation. We’ll discuss your goals and make sure your home is in a good location for solar. We then design your optimal solar energy system by assessing how much space the panels will take on your roof. Next, we’ll figure out how many we’ll need to power your home. Most importantly, we’ll set a budget so it is affordable for you.

Once your PV system is installed, we do a final inspection to ensure a great installation. You’ll be able to then monitor your systems in real time on a custom app. As the years go by, your solar panels won’t need much maintenance. You’ll want to clean them every so often to get rid of any debris that’s blocking the sun. Solar panels can last 25-30 years. After those few decades, their efficiency will drop to below what the average American family uses.

The benefits to going solar in New Hampshire are abounding. The world’s pushing for more sustainable forms of energy, and installing a PV system on your home is one of the ways you can keep our planet healthy for future generations.

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