There are many things you should know if you plan to install solar panels on your New Hampshire property. Learn about the costs of solar panels, payback periods, leasing options, and Tax credits. This information will help you determine if solar panels would be a good fit 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. With the federal tax credit, residents can save up to 30% on their solar equipment. In addition, local tax incentives can save homeowners thousands of dollars on their solar installation. A solar panel calculator can help you determine what incentives are available.
Cost of solar installation depends on the size of your home and how big the system is. A solar calculator will help you get a fair estimate and allow you to compare quotes from different solar companies.
Period of payback
Solar panels' payback time is an important factor in deciding whether they are worth the investment. The most basic method is to divide total cost of the solar panel installation by anticipated annual production. You will need additional information to accurately calculate the payback. Many solar contractors will offer a spreadsheet-style file that pulls data from multiple sources.
Selling excess energy can help you make extra revenue and reduce your electric bill. In New Hampshire, the government has created a statewide rebate program, known as net metering. This program sees solar energy being sent to the grid by customers. This energy is then received by the utility company and credits your electric account.
Lease options
There are several benefits to leasing solar panels in New Hampshire. The best part is that you can enjoy all of the energy savings straight away without having to pay any interest. The Federal 30% tax credit will be applied to your energy bill. The 100%-free consultation is for those who are considering installing solar energy in their homes.
You should understand both the pros and cons of buying and leasing before you make a decision. Purchase solar panels can be more costly and require a larger upfront payment. Leasing requires no down payment and allows you to take advantage of tax credits and rebates.
Tax credits
Tax credits for solar panels in New Hampshire are a great way of cutting utility costs and reducing the initial investment. The state's general utilities commission offers a rebate programme for residential solar energy 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 could save homeowners as much as 30% on the total cost of solar panels.
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 allows the electricity company to know that you are producing more power than you use. New Hampshire has some excellent 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. You may also be eligible for additional rebates from local co-ops.