There are many things you should know if you plan to install solar panels on your New Hampshire property. Learn about the cost and payback times for solar panels, leasing options, Tax credits, and more. This information can help you decide whether solar panels are right for your home. Check the regulations to install solar panels on your property.
New Hampshire: Solar panels cost
New Hampshire residents who invest in solar energy systems receive financial incentives from the federal government. Federal tax credits can help residents get as much as 30% off their solar equipment. In addition, local tax incentives can save homeowners thousands of dollars on their solar installation. Use a solar panel calculator to find out which incentives are available in your area.
The price of solar installations varies depending upon the size of both the system and the home. Using a solar calculator can help you figure out a fair estimate for your system, and you can compare offers from solar installation companies in your area.
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 most basic method is to divide total cost of the solar panel installation by anticipated annual production. However, to calculate the payback period properly, more information is needed. Many solar contractors will give you a spreadsheet that pulls information form multiple sources.
You can reduce your electric bill and make additional income by selling excess energy. New Hampshire's government created net metering, which is a rebate program. This program sees solar energy being sent to the grid by customers. This energy is then sent to the utility company, which credits your electric bill.
Leasing options
New Hampshire's solar panels can be leased for a variety of reasons. Most importantly, you'll get to enjoy 100% of the energy savings right away, without loan payments. You'll also get the Federal 30% tax credit for your energy bill. For those of you who are thinking of installing solar power in your home, but don't know how to go about it, you can request a complimentary consultation. This consultation is completely free!
If you are deciding between leasing or buying, it is important that you fully understand both the advantages and disadvantages of each option. Purchase solar panels can be more costly and require a larger upfront payment. Leasing on the other hand requires minimal money down. There are also tax credits, rebates, as well as potential profits.
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 utility commission offers a rebate scheme for residential electric generating systems. Under this program, any New Hampshire homeowner can receive up to $0.20 per watt of installed solar power. Rebates are not available for more than $1,000. This rebate program can save homeowners up to 30% of their total solar panel system cost.
New Hampshire solar customers have the option of net metering, which is an alternative 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. 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.