Archive for the ‘Solar Rebates’ Category

What You Need to Know About the New Hampshire Solar Energy Rebates

Monday, February 28th, 2011

One of the most popular questions at ReVision Energy lately has been “What state rebates are available in New Hampshire?” And no wonder – the residential photovoltaic rebate has come and gone, the solar hot water rebate is on a sliding scale, and the commercial rebates require some modeling to calculate.

Here’s a short guide to the rebates currently available and how they affect the economics of a solar energy installation.

Residential Solar Hot Water

Marlborough, New Hampshire - Solar Hot Water

Late last year the New Hampshire Public Utilities Commission announced an expansion of the solar hot water rebate thanks to the receipt of some additional federal funds.

The rebate comes in two parts – a state portion of the rebate that ranges from $600-900 and a federal portion which was raised from $750 to $2,000. To be eligible for the full rebate, a solar hot water installation must be a retrofit on a primary residence. For new construction, only the state portion of the rebate is available – $600, $750, or $900.

The range is based on the performance of the system, as modeled in MMBTU / year. Here’s a chart expressing the varying levels of the rebate at different levels of performance:

Estimated MMBTU Per Year Previous Max Rebate New Max Rebate Est. Fed Tax Credit Total Incentive
6 MMBTU – 19.9 MMBTU $1,350 $2,600 $2,175 $4,775
20 MMBTU – 29.9 MMBTU $1,500 $2,750 $2,775 $5,525
30 MMBTU or greater $1,650 $2,900 $3,375 $6,275

For a typical residential project (2 flat plate collectors which produce ~18.25MMBTU/yr) installed at a cost of around $10,500, the incentives amount to $5,750, well over half the cost of the system.

In a typical home that heats water with oil, a solar hot water system will save around 300 gallons of oil a year. Assuming oil costs are around $3.28/gallon, that results in a simple payback of under 5 years!

What Happened to Residential Photovoltaic Rebates?

Due to overwhelming demand, the New Hampshire photovoltaic rebate program ran out of money last year. The program is funded through the Renewable Energy Fund (REF), a fund supported by compliance payments made by electrical service providers who cannot meet renewable portfolio standard (RPS) obligations through the purchase of reneable energy credits.

The amount of these compliance payments varies widely year-to-year, and the PUC cautions that “There is no guarantee that sufficient funds will be available [when the program is next funded] to fund even those applications presently in the queue.” The earliest that any funding might again be available is July 2011. See: http://www.puc.nh.gov/Sustainable%20Energy/RenewableEnergyRebates-SREG.html

The good news – even without a state rebate program photovoltaic is appealing to homeowners. The costs of solar electric equipment has dropped by 40% in the past few years, and the uncapped 30% federal tax credit remains in place through 2016.

Rebates Arrive for Business

Black Dog Car Wash - Dover, New HampshireThe much anticipated commercial solar hot water and solar electric rebate has gotten off to a great start in New Hampshire – so far ReVision Energy has already commissioned a PV system for Black Dog Car Wash that qualified for the rebate. Several more commercial projects are in the queue.

New Hampshire’s program makes $1,000,000 available to solar thermal and solar electric projects for businesses, schools, municipalities, apartment buildings – basically any structure not eligible under the residential program.

The rebate structure is more straightforward than the residential program:

  • Photovoltaic (Solar Electric): $1/Watt up to $50,000 (or 25% of the project cost, whatever is less)
  • Solar Thermal rebate: $0.07 per kBTU/year up to $50,000 (or 25% of the project cost, whatever is less)

Like the residential solar hot water program, a RETScreen modeling analysis is used to calculate the kBTU/year performance of the solar hot water systems. Solar electric is fixed based on the nominal wattage.

Between the state rebate and current federal solar incentives, 2011 is an extremely appealing year to go solar if you’re a business.

Let’s take, for example, a medium scale solar thermal project for a business that uses a lot of hot water – a hotel or retirement home, perhaps – that is currently heating water with oil.

We’ll propose a system of 20 flat plate hot water collectors and several super-insulated tanks that will produce over 182,500,000 BTUs/year of clean thermal energy. We’ll imagine that the system will save 2,300 gallons of #2 oil per year, a result of both reduced oil use and greatly reducing standby losses of the oil boiler in the summertime.

Assuming this hot water system costs around $100,000 gross to install, the fuel savings alone will pay for the cost of the system within its first decade of operation.

However, now there is an exciting suite of rebates to apply:

$100,000 gross installed cost
($30,000) federal tax credit
($28,900) accelerated depreciation – avoided taxes over 5 years thanks to lowered net income, assumes 34% marginal tax bracket
($12,775) state rebate – $0.07/modeled kBtu/year
$28,325 net investment – less than a third of the total cost of the project!

Within this new context, that same solar hot water system will pay for itself within two years thanks to the fuel savings.

The wasteful boiler imagined in this formula is not unique – over 750,000 buildings in New Hampshire and Maine use oil for heating, and over $2 billion is shipped out of the local economy to pay for the millions of gallons of liquid fuels used annually. With cost projections for oil, propane, and electricity set to rise, and a strong suite of renewable energy rebates here today, the time has never been better to invest in solar.

Contact ReVision Energy for more information about both the commercial and residential solar rebates or visit our website to schedule a free site evaluation.

Solar Energy Qualifies for 30% Federal Tax Credit and Other Incentives in 2011

Tuesday, January 4th, 2011

Solar Federal Incentives Make Money

Make it a Sunny New Year!

There is bright news for both homeowners and businesses who are ready to make 2011 the year they finally go solar – several federal credits remain in place or have been extended.

In short:

  • The uncapped 30% federal tax credit on residential solar electric and solar hot water systems remains in effect through 2016.
  • In 2011 businesses can get a 30% federal cash grant in lieu of a tax credit, on top of state rebates (up to $2,000 in Maine, up to $50,000 in New Hampshire)
  • Through 2012 bonus depreciation has been extended, allowing businesses to take up to 100% of the depreciation benefit of a solar energy system in year one for systems installed in 2011, and up to 50% in year one for systems installed in 2012 (with the rest coming over the next five years)

Read on for more specifics about each incentive.

Residential 30% Federal Tax Credit

Residential Solar Federal Tax CreditThe 30% federal tax credit is called the “Residential Renewable Energy Tax Credit” and was established by the federal Energy Policy Act of 2005.

This credit was initially capped at $2,000 for solar energy systems, but was expanded by The American Recovery and Reinvestment Act of 2009 to be an uncapped rebate for 30% of the cost of a renewable energy system (both photovoltaic and solar thermal are eligible, along with small wind and geothermal heat pumps).

The 30% includes all cost of labor as well as equipment costs for the renewable energy system. The credit can also be carried forward to future tax years if you cannot take the full credit in the year the system was installed.

More information:

Note: This credit is not to be confused with the “Nonbusiness Energy Property Credit,” which expired in 2010. That credit specifically applied to home “energy efficient” improvements, specifically:

  • Biomass stoves (wood and pellets)
  • HVAC equipment
  • Insulation
  • Windows and doors
  • Roofing improvements

If you did purchase any of the above that meet Energy Star criteria, you can claim up to $1,500 on your 2010 taxes. See Energy Star’s website.

Treasury Grant in Lieu of a 30% Investment Tax Credit

US Treasury Grant Solar Power

In late 2010 Congress extended the 1603 Program: Payments for Specified Energy Property in Lieu of Tax Credits.

This incentive allows businesses to receive a cash grant from the US Treasury in lieu of waiting until they file their taxes to receive the 30% federal tax credit (called the Business Energy Investment Tax Credit (ITC), but with similar rules as the residential program).

By having access to the treasury grant, the program allows businesses to receive the full amount of the emergy credit even if they do not have enough tax liability to take the full 30%.

It also helps all businesses by getting cash into their hands more quickly, rather than waiting until they can file their taxes.

More information:

  • DSIRE – U.S. Department of Treasury – Renewable Energy Grants
  • DSIRE – Business Energy Investment Tax Credit (ITC)
  • US Treasury – 1603 Program: Payments for Specified Energy Property in Lieu of Tax Credits
  • MACRS + Bonus Depreciation

    MACRS Bonus Depreciation Solar Power

    Under federal tax code, renewable energy systems qualify for a 5-year Modified Accelerated Cost-Recovery System (MACRS) depreciation schedule.

    The exact benefit of this depreciation is complicated and varies depending on your businesses’ tax rate, but typically it adds up to an additional 25% of a solar energy project’s cost being offset by reduced tax payments.

    To further sweeten this incentive, in 2011 bonus depreciation has been extended, letting a business enjoy most of the benefit in year one, rather than waiting for the entire five year schedule.

    DSIRE sums it up nicely:

    The federal Economic Stimulus Act of 2008, enacted in February 2008, included a 50% first-year bonus depreciation (26 USC § 168(k)) provision for eligible renewable-energy systems acquired and placed in service in 2008. This provision was extended (retroactively for the entire 2009 tax year) under the same terms by The American Recovery and Reinvestment Act of 2009, enacted in February 2009. Bonus depreciation was renewed again in September 2010 (retroactively for the entire 2010 tax year) by the Small Business Jobs Act of 2010 (H.R. 5297).

    In December 2010 the provision for bonus depreciation was amended and extended yet again by The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (H.R. 4853). Under these amendments, eligible property placed in service after September 8, 2010 and before January 1, 2012 qualifies for 100% first-year bonus depreciation. For 2012, bonus depreciation is still available, but the allowable deduction reverts from 100% to 50% of the eligible basis.

    The short of this is that a business that installs a qualifying solar energy system in 2011 can enjoy a 100% bonus depreciation the first year the system is commissioned, rather than waiting for the entire 5 year depreciation schedule. Also, a 50% bonus depreciation is available through 2012.

    Given the time value of money and the tough economic climate, this benefit helps make solar energy systems more accessible in the near-term by businesses that will be able to save significant fossil fuel energy costs over the life of the system.

    In fact, between the treasury grant, bonus depreciation, and generous state rebates, many businesses (particularly heavy water users like inns and restaurants) can enjoy a year-one payback on solar energy systems!

    More information:

  • DSIRE – Modified Accelerated Cost-Recovery System (MACRS) + Bonus Depreciation (2008-2012)
  • IRS Form 4562 – Depreciation and Amortization (Including Information on Listed Property) (PDF)
  • IRS – Instructions for Form 4562 (PDF)
  • What Do Rebates Mean for Me?

    Here are a few example solar energy projects to help illustrate how federal incentives affect solar energy economics.

    Scenario #1- Residential SHW system

    $10,500 installed cost
    -$1,000 ME Solar Rebate (avg. $2,600 NH state rebate)
    -$3,150 30% Fed Tax Credit
    $6,350 Final Cost (40% savings with current incentives)

    Scenario #2- Residential PV system 4kw (5,200 kWh/yr)

    $19,000 installed cost
    -$2,000 ME Solar Rebate (currently no NH state rebate)
    -$5,700 30% Fed Tax Credit
    $11,300 Final Cost (40% savings with current incentives)

    Scenario #3- Commercial PV system

    $100,000 installed cost
    -$2,000 ME Solar Rebate (up to $50,000 in New Hampshire)
    -$28,900 accelerated depreciation – avoided taxes over 5 years thanks to lowered net income, assumes 34% marginal tax bracket
    -$30,000 30% Fed Tax Credit
    $39,100 Final Cost (60% savings with current incentives)

    Interested in learning more? Contact Revision Energy for a free consultation about how to take full advantage of the current government incentives available for renewable energy projects.

    New Hampshire Expands Solar Hot Water Rebate

    Tuesday, November 23rd, 2010

    Clean energy advocates in New Hampshire have two big reasons to be thankful this season – the New Hampshire Public Utilities Commission has announced an expansion of the solar hot water rebate available to homeowners and has released the application for their commercial solar hot water and solar electric rebate (PDF).

    Here are some details on both programs:

    Residential Solar Thermal is Hot

    The solar hot water rebate in New Hampshire is tiered based on the performance of the system, which is expressed in MMBTU / year. This consists of a state rebate that ranges from $600-900 and a federal rebate which has been raised from $750 to $2,000.

    Here’s what the rebate program looks like for different kinds of systems:

    Estimated MMBTU Per Year Previous Max Rebate New Max Rebate Est. Fed Tax Credit Total Incentive
    6 MMBTU – 19.9 MMBTU $1,350 $2,600 $2,175 $4,775
    20 MMBTU – 29.9 MMBTU $1,500 $2,750 $2,775 $5,525
    30 MMBTU or greater $1,650 $2,900 $3,375 $6,275

    For a typical residential project (2 flat plate collectors which produce ~18.25MMBTU/yr) installed at a cost of around $10,500, the incentives amount to $5,750, well over half the cost of the system!

    The rebates are retroactive, as well, so if you recently installed a solar hot water system and qualified for the New Hampshire state rebate, you can expect a holiday gift from the PUC soon.

    Rebates Arrive for Business

    Moat Mountain Brewpub - North Conway, NH
    The solar hot water system for Moat Mountain Brewpub will save the brewery an estimate 520 gallons of oil a year

    Equally exciting is the arrival of the much anticipated commercial solar hot water and solar electric rebate.

    This program makes $1,000,000 available to solar thermal and solar electric projects for businesses, schools, municipalities, apartment buildings – basically any structure not eligible under the residential program.

    The rebates are pretty straightforward:

    • Photovoltaic (Solar Electric): $1/Watt up to $50,000 (or 25% of the project cost, whatever is less)
    • Solar Thermal rebate: $0.07 per kBTU/year up to $50,000 (or 25% of the project cost, whatever is less)

    Like the residential solar hot water program, a RETScreen modeling analysis is used to calculate the kBTU/year performance of the solar hot water systems.  Solar electric is fixed based on the nominal wattage.

    Solar Economics are Amazing

    The generous rebate makes it extremely attractive to invest in solar if you’re a business.  Let’s take, for example, a medium scale solar thermal project for a business that uses a lot of hot water – a hotel or retirement home, perhaps – and is currently heating that water with oil.

    We’ll propose a system of 20 flat plate hot water collectors and several super-insulated tanks that will produce over 182,500,000 BTUs/year of clean thermal energy.  We’ll imagine that the system will save 2,300 gallons of #2 oil per year, a result of both reduced oil use and greatly reducing standby losses of the oil boiler in the summertime.

    Assuming this hot water system costs around $100,000 gross to install, the fuel savings alone will pay for the cost of the system within its first decade of operation.

    However, now there is an exciting suite of rebates to apply:

    $100,000 gross installed cost
    ($30,000) federal tax credit
    ($28,900) accelerated depreciation – avoided taxes over 5 years thanks to lowered net income, assumes 34% marginal tax bracket
    ($12,775) state rebate – $0.07/modeled kBtu/year
    $28,325 net investment – less than a third of the total cost of the project!

    Within this new context, that same solar hot water system will pay for itself within two years thanks to the fuel savings.

    While the wasteful boiler imagined in this formula is a “best case” scenario for solar, the economics work out for businesses of all sizes who are ready to both take an enormous cut out of their carbon emissions and save money while doing it.

    Contact us for more information about both the commercial and residential solar rebates or to schedule a free site evaluation.

    Maine Towns Pick up PACE Legislation

    Tuesday, October 5th, 2010

    Efficiency Maine PACE ProgramWhile it’s faced legal hurdles in other parts of the country, Property Assessed Clean Energy (PACE) financing may finally be arriving for Maine residents as early as mid-November according to Efficiency Maine. UPDATE: As of April 4, 2011, PACE Solar Loans are now available.

    This unique program allows residents in towns that have passed a PACE ordinance to get low-interest loans on energy efficiency and renewable energy systems, everything from insulation and caulking to solar hot water and solar electric systems.

    The program allows homeowners to get an energy efficiency loan that is tied to their property – rather to them personally – so that they will not be liable for the loan if they decide to sell the house. In the meantime, however, a home with improvements financed through the PACE program will benefit with improved comfort and reduced fossil fuel energy costs and carbon emissions.

    How Does PACE Work?

    PACE loans will be available for up to $15,000 on what Efficiency Maine calls “energy saving improvements,” that is, either work that “result[s] in increased energy efficiency and substantially reduced energy use” or a “renewable energy installation or an electric thermal storage system.” Which means that residential solar hot water systems and grid-tied solar electric systems qualify for loans under the program (from the Model PACE Ordinance (PDF)).

    These loans are intended to be tightly entwined with performance of efficiency upgrades so that the cost of the loan payment is comparable to or less than the current utility payment. PACE loans will not be allowed for terms longer than the expected life of the improvement.

    Biddeford, Maine - Solar Hot Water
    Solar hot water systems, such as this one in Biddeford, Maine, will save the homeowner more than $15,000 in utility bills over its first 20 years of operation.

    This is certainly a good model for solar energy systems which will last more than 20 years, and are most affordable when taking a long view of energy savings.

    For instance, a typical solar hot water system saves 300 gallons of home heating oil per year, worth roughly $780/year at today’s prices, for a savings of more than $15,000 over the life of the system. With an out of pocket cost of $5,500 to $6,000 once you factor in state and federal rebates, it will take about 8 years for the system to pay for itself.

    The same system, benefiting from a 15-year PACE loan at 5% interest, results in a payment of roughly $71/month, or $852/year.  Since the PACE loan is based on net installation cost of the system, you would still benefit from the $3,150 federal tax credit, which if applied to your monthly payment would bring your average payment down to $57/mo, or $684/year.  A financed system saves money from day one!

    How Can I Get a PACE Loan?

    Getting access to the fund requires a few things:

    • You must live in a town that has passed a PACE ordinance. So far that includes Cumberland, Yarmouth, Arrowsic, Waterboro, Fayette, South Portland, Old Town, Hampden, and Belfast with dozens more in process. If you’re unsure whether your town has passed an ordinance, now is the time to call your town office!
    • You must have an energy audit done, and the energy auditor must be able to show that your proposed system will meet Efficiency Maine’s performance requirements. PACE will be managed through Efficiency Maine’s existing Home Energy Savings Program (HESP), which requires a computer model that demonstrates a 25% energy savings from the proposed efficiency improvement.This modeling biases towards weatherization, though solar hot water can also be considered (since combined with boiler improvements solar hot water achieves dramatic decreases in home heating oil use). It’s not clear how solar electric systems will be evaluated for PACE loans just yet.

    What About PACE in New Hampshire?

    Unfortunately, PACE legislation has hit a big snag in New Hampshire. SeacoastOnline reported it this way:

    Last year, the New Hampshire Legislature passed House Bill 1554 to create the framework for municipalities to develop PACE, according to Eric Steltzer, a policy analyst for the state Office of Energy and Planning. New Hampshire set up PACE as assessment districts, such as a water or sewer district. As such, PACE became a priority lien holder.

    Freddie Mac and Fannie Mae, the Federal Home Mortgage Corp. and Federal National Mortgage Association, respectively, balked at being put in a secondary lien position. The mortgage giants said they would not support PACE in states in which those loans are given a priority status on liens, said Steltzer.

    This means, said Steltzer, “When you sell your house, they will not offer a mortgage on a property that has PACE on it. I do not foresee any communities in New Hampshire creating PACE entities.”

    In contrast, Maine’s program specifically states that the PACE loan is secondary to the primary mortgage to avoid this road block. However, New Hampshire citizens still can take advantage of terrific state rebates and a growing number of private financing options.

    We’ll keep you posted as the program evolves in both Maine and New Hampshire, and of course alert you to any new rebate programs, incentives, or solar financing options!

    Resources on PACE

    New Hampshire Solar Ups and Downs – Cut to Residential Rebate Proposed, Commercial Rebates Introduced

    Monday, August 30th, 2010

    New Hampshire State Solar RebatesNew Hampshire is becoming a renewable energy leader in the Northeast thanks to increasingly progressive energy policies and generous incentives for solar installations.

    Homeowners have been able to enjoy a $3/watt system rebate up to $6,000, which takes a big bite out of the cost of a solar electric system and brings the ‘simple’ return on the system to under 7 years in many cases (see more on solar electric ROI).

    However, in a recent order of notice (DE10-194 – full details here (PDF)), New Hampshire’s Public Utilities Commission has proposed reducing the rebate from $3/watt, $6,000 max to $1.5/watt, $3,000 max.

    Here’s an explanation:

    The incentive payments are funded through the Renewable Energy Fund (REF), which is supported by alternative compliance payments (ACPs) made by electric service providers who cannot meet their Renewable Portfolio Standard (RPS) obligations through the purchase of Renewable Energy Certificates (RECs) …

    the REF [has] an uncommitted balance of approximately $1.5 million. Given that the small residential renewable incentive program experiences an average of 20 incentive applications per month, totaling an average of $12,800 per month in incentive payments, or, $1.5 million annually, and assuming this rate of participation will continue at that level, the fund could be exhausted by this program before the end of fiscal year 2011 and would likely exceed the portion of funding that should go to residential programs …

    Based on these factors, the Commission proposes to halve the incentive payment to $1.50 per watt and the per-system maximum to $3,000 for small residential electrical renewable energy facilities. Lowering the incentive payment and per-facility maximum amount will allow for the same number of systems that are currently processed for rebates to be eligible for incentives, thus providing continued business for installers of small residential renewable generation systems.

    In other words, the program has been a victim of its own success!

    UPDATE: According to the PUC at a September 1 public hearing, in the 13 months that the program has been in place, they’ve received 443 applications, of which 296 have been successfully completed and 147 are pending.  While they average 20 approved application per month, recently they received 27 new applications on as single day!

    The upside of the drop in the residential rebate is that New Hampshire plans to introduce a business rebate very soon.

    Commercial Rebates on the Way

    The great news for business owners and anyone interested in cleaner New Hampshire air is that there will soon be commercial, nonprofit and municipal cash incentives for both solar electricity and solar hot water.

    We attended a technical session on August 19 to review the PUC’s renewable energy rebate design considerations. There is an additional opportunity for public comment on August 30 at 10AM and opportunity for written comment until Sept 3.

    There may still be changes yet, but the suggestions under consideration:

    • the… incentive payment for PV systems will begin at $1.25 per Watt for the first 20 kW and would decline to $1.00 per Watt for the next 35 kW and to $0.75/Watt from 55 kW up to 100 kW. In addition, the C&I rebate for a PV system would be capped at 25% of the cost of the facility, or $50,000, whichever is less. The $50,000 cap would be reached at a system size of45 kW under these incentive levels.
    • The [solar hot water] base rebate would be $0.07 per rated or modeled kBtu/year, capped at 25% of the cost of the facility or $50,000, whichever is less, as a one-time incentive payment.

    Details in the full order of notice (PDF).

    We’ll be attending this session and will write up the results and likely changes as soon as we have more details!

    Efficiency Maine Extends $1,000 Summer Bonus to Home Energy Savings Program

    Tuesday, July 27th, 2010

    Efficiency Maine Energy RebatesEfficiency Maine has announced that their popular $1,000 summer promotion for the Home Energy Savings Program (HESP) has been extended. Sign up by August 31st to qualify for an additional $1,000 beyond the existing $1,500 – $3,000 of incentives available in the program.

    Here’s how it works:

    • You no longer have to complete the project by August 31st.  Simply send in your application using the Efficiency Maine website.
    • You’ll need to have an energy audit completed by September 30th and the project completed by December 31st.
    • The $1,000 bonus is above and beyond the HESP standard rebates, which are:
      • 30% of Project Cost up to $1,500 for projects that will result in 25% – 49% total annual thermal energy savings - OR -
      • 50% of Project Cost up to $3,000 for projects that will resulting total annual thermal energy savings that will be 50% or more
    • If solar hot water is part of the HESP project you’ll still get the standard solar hot water rebate, including an additional $500 for a total $1,500 solar hot water rebate.

    To get started with the HESP program, be sure to submit a request before the August 31st deadline – that will secure your $1,000 bonus rebate. Then find an energy auditor – if you’d like a referral in your area just contact us!

    The Home Energy Savings Program is funded by a stimulus grant from the American Recovery and Reinvestment Act (ARRA).

    Get Paid for Solar! New Hampshire Passes Forward-Minded Solar Electric Legislation

    Tuesday, July 20th, 2010

    Solar Tariff Rebate New HampshireThe Granite State has already been a solar leader in New England with their generous $6,000 cash rebate for residential solar electric systems up to 5kw as well as an average $1,500 rebate for solar hot water.

    Now New Hampshire has taken the next step – mandating utilities to pay the customer for excess electric generation!

    Yes, New Hampshire now requires utilities to pay customers when their solar electric system generates more electricity than they use.

    The legislation, House Bill (HB) 1353 states that:

    the customer-generator may elect to be paid or credited by the electric distribution utility for its excess generation at rates that are equal to the utility’s avoided costs for energy and capacity to provide default service as determined by the commission consistent with the requirements of the Public Utilities Regulatory Policy Act of 1978 (PURPA)

    Emphasis Added

    Wow!

    How Much Will I Be Reimbursed?

    In Germany, getting paid for solar electric generation is well-known, the special rate that you receive for excess solar electric generation is called a feed-in tariff.

    New Hampshire’s program is a bit different, in that customers will get reimbursed closer to market rates for electricity, rather than a special “feed in” rate (which, in Germany, generates a roughly 8% return on investment for owners of solar systems).

    The legislation puts it this way:

    Each net energy metering tariff shall be identical, with respect to rates, rate structure, and charges, to the tariff under which a customer-generator would otherwise take default generation supply service from the distribution utility.

    While the legislation is still in the process, should the full distribution cost of electricity be included in the reimbursement, that would result in a rate of close to .15c/kwh. We will post a follow-up once we better understand the details of the program!

    When Can I Get Started?

    The legislation is marked to be effective August 13, 2010.

    In the meantime, solar electricity continues to spin your meter backwards and reduce your electric bill to zero so there’s no reason to wait!

    Contact us to keep updated as we discover more details about this exciting new program (which hopefully shall inspire neighboring states to follow suit).

    New Hampshire Now Offering $1,500 Solar Hot Water Cash Rebate

    Monday, May 3rd, 2010

    Wolfeboro, New Hampshire - Solar Hot Water
    Flat plate solar hot water collectors installed on a home in Wolfeboro, New Hampshire.

    Solar hot water systems now qualify for an average $1,500 rebate from the state of New Hampshire.

    As of Earth Day 2010, New Hampshire now offers a state solar hot water rebate program, which averages $1,500 for a typical residential solar hot water system.

    This program is comparable to Maine’s existing $1,500 rebate – now it doesn’t matter which side of the mighty Piscataqua you’re on – renewable energy makes more sense than ever!

    How the Rebate Works

    The rebate is on a sliding scale based on BTU output of the system under peak solar conditions. The average rebate of $1,500 is for a typical family of four – larger systems qualify for up to $1,650 towards a system.

    A few piece of fine print – the rebate can only be used for a primary residence in New Hampshire and can only be used for retrofits (no new homes – however, solar hot water for a new home is still a great investment because of the incredible life of the energy efficiency upgrades).

    What Does a System Cost?

    This new state rebate is in addition to a 30% uncapped federal tax credit. The net system budget for a typical 4-person household looks like this:

    $11,000 gross installed cost
    -($3,300) fed tax credit
    -($1,500) state rebate
    $6,200 net investment

    Here are estimated payback periods for a 4-person system at different prices for heating oil:

    [TABLE=2]

    Compared to electric water heating, a solar hot water system will save roughly 3,540 lbs of C02 from entering the atmosphere each year.

    Get Started

    Curious whether solar hot water is a good match for your New Hampshire home? ReVision is happy to offer a free solar site evaluation is the first step towards securing the state rebate.

    In addition to answering any of your questions about solar, we review your home and site and help determine where a solar energy system would fit in. Several pieces of site data are required to qualify for the state rebate and we’ll collect all of those while we’re at your home.

    Contact us or call our New Hampshire office (603) 501-1822 for more information.