Return of the NH State Rebate
In the News | September 10, 2012 |Posted by Fred Greenhalgh
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NH Solar Electric Rebate Returns at $3,750!
The NH State Residential Photovoltaic Rebate has returned at up to $3,750 for photovoltaic systems. The 5kw cap on system size remains. The largest system you can design to meet the requirements is 20x 245watt panels or 19 X 260watt panels, both equalling a 4.9kw array.
Based on a rough installed cost of $4/watt (actual cost varies based on complexity of installation and panel choice) a typical system looks like this:
$19,600 gross installed cost
-($5,880) 30% federal tax credit
-($3,675) NH state rebate
$10,045 net investment – nearly 50% of project cost covered by incentives!
This type of system (on an open sunny site) will generate roughly 6,200 kWh/yr – enough to reduce your electric bill by around $80/mo at today’s rates. It will pay for itself in around 10 years, is warrantied for 20 yrs, and will likely last 30-50 years in the field.
Of course, Mainers have had a photovoltaic rebate all along, with a cap of $2,000. While both Maine and New Hampshire have funding for these rebates today, their future availability is far from guaranteed as there is limited money for both state programs and legislative pressure against renewable energy programs in general.