Here are some things to consider if you're interested in installing solar power on your New Hampshire home. Find out about solar panels' cost, payback times, leasing options, tax credits, and other details. These facts will help to decide if solar power is right for you. Be sure to review the regulations when installing solar panels.
New Hampshire cost of solar panels
New Hampshire is not the only state that offers financial incentives for homeowners who invest into solar energy systems. Residents can get up to 30% off of their solar equipment with the federal tax credit. Local tax incentives are also available to homeowners who want to save thousands on their solar installations. You can use a solar panel calculator in your area to determine which incentives may be available.
The cost of solar installation varies depending on the size of the system and the size of the home. You can get an estimate from a solar calculator and can also compare offers from other solar companies.
Payback period
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. More information is required to properly calculate the payback time. Many solar contractors will give you a spreadsheet that pulls information form multiple sources.
The sale of excess energy can bring in additional revenue, as well as lowering your electric bill. Net metering is a state-run rebate program in New Hampshire. In this program, solar energy is sent to the utilities grid. This energy is then sent to the utility company, which credits your electric bill.
Leasing options
New Hampshire solar panel leasing offers many benefits. Most importantly, you'll get to enjoy 100% of the energy savings right away, without loan payments. The Federal 30% tax credit will be applied to 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!
When choosing between leasing and buying, make sure you understand the pros and cons of each option. Purchasing solar panels is usually more expensive, and you'll have to shell out a large sum of money up front. Leasing solar panels requires very little money down and can be redeemed with tax credits, rebates, or potential profits.
Tax credits
Taking advantage of tax credits for solar panels in New Hampshire is a great way to cut utility costs and offset the initial investment of a new solar energy system. The state's public utility commission offers a rebate program to homeowners who have residential renewable electricity generating 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 have the option of net metering, which is an alternative to tax credits. The electric company will track the amount of electricity you produce and credit any surplus to your next bill. Net metering, which is a method of notifying the electricity provider that you are using more energy than you produce, is used in New Hampshire. It has some of the best net-metering laws in America. In New Hampshire, customers with solar power can be eligible for the 5th highest solar rebate. This rebate ranges between $750 and $3750 per megawatt. Additionally, some local co-ops may offer additional rebates.