You need to be aware of several things if you are interested in going solar on your New Hampshire residence. Learn more about the cost of solar panels and how they work, as well as leasing options and tax credits. These details will help you decide if solar panels are right fit for your home. Make sure you review the regulations before installing solar panels on your home.
New Hampshire price of solar panels
New Hampshire homeowners can get financial incentives from federal government for investing in solar energy systems. Federal tax credit residents can receive up to 30% discount on their solar equipment Additionally, homeowners can get thousands of dollars in tax incentives to help them save money on solar installation. You can use a solar panel calculator in your area to determine which incentives may be available.
Costs for solar installation vary depending on the size and location of the system. A solar calculator will help you get a fair estimate and allow you to compare quotes from different solar companies.
Period of payback
The payback period for solar panels is an important metric in determining whether solar energy systems are worth the investment for homeowners. The basic calculation involves dividing total cost by expected annual production. You will need additional information to accurately calculate the payback. Some solar contractors can provide a spreadsheet format document that pulls in information from several sources.
Selling excess energy can help you make extra revenue and reduce your electric bill. New Hampshire has a net metering program. It is a rebate program run by the government. In this program, solar energy is sent to the utilities grid. The utility company then receives the energy, and credits your electric meter.
Leasing options
There are several benefits to leasing solar panels in New Hampshire. Most importantly, you'll get to enjoy 100% of the energy savings right away, without loan payments. Additionally, you will receive the Federal 30% credit on your energy bills. 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!
When choosing between leasing and buying, make sure you understand the pros and cons of each option. Purchase solar panels can be more costly and require a larger upfront payment. Leasing solar panels requires very little money down and can be redeemed with tax credits, rebates, or potential profits.
Tax credits
New Hampshire tax credits are a great tool to lower utility costs, offset the initial investment in a solar energy system, and take advantage of them. The state's public utilities commission offers a rebate program for residential renewable electric generating systems. A rebate program is available to New Hampshire homeowners that can get up to $0.20 for each watt of solar power installed. Rebates are not available for more than $1,000. The rebate program is designed to save homeowners up 30% on the cost of their solar panel system.
New Hampshire solar customers can take advantage of net Metering in addition to tax credits. The electric company will monitor your electricity production and credit any excess to you next bill. Net metering lets the electricity company know when you're producing more energy than your consumption. New Hampshire has some great net metering laws. Solar customers can also qualify for the 5th highest national solar rebate. It ranges from $750 perkW to $3750/kW. You may also be eligible for additional rebates from local co-ops.