What You Need to Know to Go Solar in New Hampshire in 2021
New Hampshire might be known a bit more for maple syrup and its northern mountains than the strength of its sunshine, but don’t be fooled! Solar energy is today the most cost-effective way for homes, businesses, and institutions in New Hampshire to get control over their energy bills and lock in a reliable cost of energy from a proven solution: the sun.
How Does Solar Works in New Hampshire?
It may not seem it in the midst of a winter storm, but New Hampshire actually receives quite an incredible amount of solar energy each year – in fact, a full 33% more sunshine than Germany, a world leader in solar energy adoption. Our climate may be cold, but cold is actually good for solar panels. In the brisk but sunny fall and spring, solar panels in New Hampshire will produce a disproportionately high amount of power, helping to make up for any power loss due to solar panels being covered in snow.
New Hampshirites going solar have a few options, the most popular is a grid-tied solar electric array. ‘Grid-tied’ means that the system will connect to the public utility grid, providing reliable backup power for when there is insufficient sun to power your home, such as at night or on cloudy days. Conversely, a grid-tied system also sells excess power to the grid, meaning, when it is sunny and your system is producing more solar power than you can use, you’ll send the power back to the public grid, powering your neighbor’s house and earning you a credit. The solar credits you earn can be used against future power consumption from the grid.
Most of the systems we design will meet close to 100% of a home’s needs in a given year. In the summer, you will tend to produce more power than you need and you will earn a credit. In the winter, you will tend to need more power than you produce and so you’ll consume those solar credits. At the end of the year, you should be at or close to zero credits in the solar bank, a situation we call ‘net zero’ (not to be confused with ‘off-grid,’ which means not using the utility grid at all!).
What are the Benefits of Going Solar?
Going solar is an environmental and economic win for you, your family, and your community! Solar is a clean, infinitely abundant resource, and helps the environment, what has opened up solar to vastly more people, and led it to become the fastest growing new electricity source in the US. Solar is now the least expensive source of electricity on the planet. Going solar is a strong economic investment, increases your property value while also decreasing electricity rates for you and your neighbors (even if they don’t use solar).
Transitioning to solar is the first step in regaining full control over your home’s energy needs. Thanks to continually evolving technology, you can use the abundant power of the sun to heat and cool your home, store power for backup in case of an outage, and even charge your car. Solar is an abundant resource that continues to become more affordable in New Hampshire, and offers so many benefits that you and your future family will enjoy for years to come.
What New Hampshire Solar Incentives are Available?
In addition to a top net-metering program, New Hampshire offers a series of solar incentives and tax credits for homeowners looking to save money on their electric bill by transitioning to a clean energy home. Through the state’s Residential Renewable Electrical Generation Rebate Program, qualifying residents can receive rebates for their PV systems. You can receive $0.20 per watt up to $1,000 or half the cost of your solar systems.
Tax credits and exemptions are also available, including the federal solar investment tax credit (ITC) of 26%. Thanks to an extension of the ITC in December 2020, every solar homeowner can receive a 26% tax credit on their solar installation.
New Hampshire also offers a financing program for low-income households through their Home Energy Assistance Program (HEAP).
What about Renewable Energy Credits (RECs)?
The ‘green’ properties of your solar array have value and can be sold for additional revenue. For every 1,000 kilowatt-hours, a solar customer earns a Renewable Energy Credit or REC. RECs can be sold into markets where power companies are obligated to purchase a certain amount of clean energy to meet requirements under state law. The fees for RECs vary widely, and on average fluctuate between $20-$30 per REC in New Hampshire. So for example, at $30/REC, the above system would generate 7 RECs per year (7,800 / 1,000 = 7.8) worth 7 * $30 = $210 in additional revenue each year.
How Much Does it Cost in New Hampshire?
The easiest thing to do is to open up our solar calculator which will show different size systems and how the pricing varies.
Here’s an example breakdown of a standard rooftop mount 7-kilowatt solar electric array (twenty-two 320-watt panels). This system will produce around 8,450 kilowatt-hours of electricity per year, enough to meet 100% of the needs of many homes.
$22,880 gross installed cost
– ($6,864) 26% federal tax credit
– ($1,000) state rebate
$15,016 total NH solar investment
Say you pay 16 cents per kilowatt-hour now for electricity, by saving you around $1,344/yr, the system will have paid for its installation cost in roughly 9 years and will continue producing free power for the next 20+ years. Solar power equipment is warrantied for 25 years, and we expect it to last for more like 40+ years.
Is there financing available?
Yes! ReVision Energy is now able to offer solar loans for no money down, with monthly payments the same as or lower than your current electric bill. Here’s how it works: you start the process to talk about solar with ReVision Energy. We design you a system like we always have. Then, we get into a discussion of how a solar loan works and look at how to build the best loan package possible, often including complementary tech like water heaters and heat pumps, which accelerate the return of investment of solar.
How Do I Get Started?
Glad you asked! Fill out this form below, or take a look at our guide to going solar if you are interested in learning more.