If you want to go solar on your New Hampshire home, there are several things you need to know. Find out about solar panels' cost, payback times, leasing options, tax credits, and other details. This information can help you decide whether solar panels are right for your home. Also, be sure to check the regulations for installing solar panels on your property.
Cost of solar panels in New Hampshire
The federal government offers financial incentives to homeowners who invest in solar energy systems, and New Hampshire is no exception. Federal tax credit residents can receive up to 30% discount 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. The solar calculator will give you an accurate estimate, and you can also compare the offers of different companies.
Period of payback
In determining whether solar energy systems make sense for homeowners, it is important to consider the payback period of solar panels. The basic method involves dividing the total cost of the installation by the anticipated annual production. For a more accurate calculation of the payback period, additional information is needed. A spreadsheet-style document will be provided by some solar contractors that pulls together information from many sources.
Not only will you reduce your electric bills, but you'll also be able to make additional revenue by selling any excess energy that you produce. In New Hampshire, the government has created a statewide rebate program, known as net metering. In this program, solar energy is sent to the utilities grid. This energy is then received by the utility company and credits your electric account.
Leasing options
Leasing solar panels in New Hampshire has many benefits. Without loan payments, you will get 100% of the energy savings. And, you'll get the Federal 30% tax credit on your energy bill. You can request a 100% free consultation if you are interested in installing solar panels in your home.
When choosing between leasing and buying, make sure you understand the pros and cons of each option. Solar panels purchased are usually more expensive and will require you to pay a significant amount of money up-front. Leasing on the other hand requires minimal money down. There are also tax credits, rebates, as well as potential profits.
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 public utilities commission offers a rebate program for residential renewable electric 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. However, rebates are limited to a specific amount of money, usually $1,000. This rebate program can save homeowners up to 30% of their total solar panel system cost.
New Hampshire solar customers have the option of net metering, which is an alternative to tax credits. This program will allow the electric company monitor how much electricity you produce, and credit any excess to the next bill. Net metering is a way of letting the electricity company know that you are producing more energy than you use, and New Hampshire has some of the best net metering laws in the country. Solar customers can also qualify for the 5th highest national solar rebate. It ranges from $750 perkW to $3750/kW. Additionally, some local co-ops may offer additional rebates.