Image source: Canva.com
New Hampshire is an excellent state for solar energy. While installation costs are slightly higher than the national average, various solar incentives are available to help offset the investment.
Here’s your guide to going solar in the Granite State.
Key Solar Rebates and Incentives in New Hampshire
As a New Hampshire homeowner, Clean Electricity Investment Credit – formerly known as the ITC – is the most effective way to reduce your solar costs.
Solar Property Tax Exemption
New Hampshire also offers a solar property tax exemption. While solar panels typically increase a home’s property value, if your city or town adopts this law, you won’t incur additional property taxes on the added value.
Energy Efficiency & Clean Energy Districts Program
Energy Efficiency & Clean Energy Districts program allows local governments to create districts that provide financing for energy efficiency, renewable energy, and water conservation projects. This financing is repaid through property assessments. The initiative aims to promote sustainable energy practices and reduce environmental impact by making it easier for property owners to fund and implement energy improvements.
New Hampshire’s Key Solar Incentives: A Breakdown
Net Metering In New Hampshire
Connecting your solar panel system to the grid allows you to benefit from net metering, which is considered one of the best incentives for solar power.
With net metering, your utility company essentially acts as a bank for your solar energy. If your solar panels generate more electricity than your home needs at any given time, the excess power is sent back to the grid, and you receive an energy credit. When your solar panels aren’t producing enough power, such as on cloudy days or at night, you can use these credits to offset your electricity costs.
Depending on factors like weather, energy consumption, and your solar system’s performance, net metering can significantly reduce or even eliminate your electricity bill.
Here are some important details about New Hampshire’s current net metering policy:
- Credit carry forward: Excess energy credits can be carried forward indefinitely. This means you can accumulate credits during sunny months and use them during less sunny periods, such as winter.
- Value of carried-forward credits: Credits carried forward are valued at approximately 25% less than the retail electricity rate. They are recorded as kWh-based energy credits, so you’ll need to pay your monthly meter fee in cash, as credits cannot cover this.
- Upcoming changes: New Hampshire is reviewing its net metering rules. While the specifics of any new policy are uncertain, it’s unlikely to be more advantageous for consumers than the current system. If you install solar before these changes take effect, you will likely be grandfathered into the existing plan for many years. Should the new rules be more favorable, there may be options to switch to the updated policy.
Is Going Solar Worth It in New Hampshire?
Options for Financing Your Solar Panel System
Here are a few ways to finance your solar panel system so you don’t have to provide all the money upfront:
Cash Purchase
You’ll own the system outright and pay for it upfront, offering the best long-term savings.
Allows you to retain ownership of your system with little to no money down. Look for subsidized clean energy loans through local incentive programs for the best rates. Home equity loans or personal loans are alternatives, though private solar loans may come with higher interest rates or upfront fees.
A third-party company owns the system and either leases you the panels (solar lease) or sells you the electricity they generate (PPA). These options typically offer lower savings and can involve lengthy contracts. Be sure to carefully review the terms before committing to avoid potential drawbacks.
Discover the Ideal Solar System for Your Home in Just a Few Clicks!
Navigating the Solar Interconnection Process
Navigating the solar interconnection process in New Hampshire involves several steps to connect your solar panel system to the electrical grid:
- Choose a licensed solar installer who can evaluate your property, design your system, and handle the installation.
- The installer will design your solar system and obtain necessary local permits, such as building and electrical permits.
- Submit an interconnection application to your utility provider. In New Hampshire, this includes utilities like Eversource, Liberty Utilities, and New Hampshire Electric Cooperative. The application provides details about your solar system and its connection to the grid.
- Your utility will review the application to ensure it meets technical and safety requirements. This may include a technical review and possibly a site visit.
- Once approved, your solar system will be installed. This includes mounting the panels, wiring, and installing the inverter.
- A final inspection by local authorities and/or the utility company is required to verify that the installation meets all safety and regulatory standards.
- After passing inspection, the utility company will connect your system to the grid. This involves installing a net meter to track the solar energy produced and used.
- With your system connected, you can start generating electricity and benefiting from net metering or net energy billing, depending on the current policies.
- Regular monitoring and maintenance are essential to ensure your solar system operates efficiently and any issues are addressed promptly.
By following these steps, you can successfully navigate the solar interconnection process in New Hampshire and enjoy the benefits of solar energy.
Are Solar Panels Worth It?
Yes, solar panels are generally a valuable investment, both financially and ethically. Although the initial cost of a home solar power system can be high, tax credits and other incentives can significantly lower these upfront expenses. Over time, many users experience substantial savings on their electric bills, which helps offset the overall cost.
Additionally, solar panels provide the satisfaction of contributing to environmental sustainability. In most cases, the benefits of going solar far exceed the drawbacks.
