Nh Solar Panel Incentives

3 the tax credit amounts to 30 of the cost of purchasing your solar system. What are the top solar rebates and incentives in new hampshire. In new hampshire the average solar payback period is 10 04 years.

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Solar offsets enough of it to save you about 1 569 in year 1 and it just goes up from there.

Nh solar panel incentives.

Small pv systems program. Solar incentives rebates and tax credits available in new hampshire in 2020 the most significant incentive to install solar panels for homes and businesses is the federal solar tax credit. Your net cost for the solar power system after applying the federal incentive is 11 844. In addition to new hampshire s state solar tax credits you d also be eligible for the federal solar tax credit if you buy your own solar system outright.

Regardless of the exact cost of installation there are many affordable financing options for solar panel systems. Wood pellet commercial financial incentives available. As the electric company raises rates you save more and more and more. Cash purchases are one common method to pay for solar and often lead to the most long term value for your money.

There are no state or utility company rebates available in new hampshire at this time. Over 25 years your system will have produced about 33 400 in income. The northern forest center a non profit organization working for rural communities and healthy working forests across northern new hampshire maine vermont and new york has financial incentives available to help several commercial buildings in coos grafton or carroll counties switch to high efficiency wood pellet heat. Any homeowner in new hampshire with a solar system size of 10 kilowatts kw or less will qualify for the state s incentive program for small residential solar.

The program pays 0 20 per watt up to 1 000 or half the cost of the system whichever comes first. The federal solar tax credit gives you a dollar for dollar reduction against your federal income tax. New hampshire has a variety of incentives for homeowners going solar including. The reason this works is that electricity in new hampshire is expensive.

At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation. The incentive is 25 of system cost up to 10 000 and can be added to the state s generous incentive.