Solar Panels in New Hampshire: Cost, Savings, and Rebates

Solar Panels in New Hampshire: Cost, Savings, and Rebates

In 2022, New Hampshire produced only 201MW of solar energy, some of the lowest in the country. However, this doesn’t represent a lack of support. With high electricity rates and a good range of incentives, residents could save thousands on utility bills by switching to solar panels in New Hampshire.

You might wonder how to get started putting together a budget. In this article, we touch on all the important aspects, including equipment rates, key factors, and how you’ll save money. So let’s get started with solar panel costs in New Hampshire.

Average Cost of Solar Panels in New Hampshire

It’s a good idea for homeowners to consider solar panels in New Hampshire, even with the high cost of equipment. In the Granite State, residents can expect to pay about $2.83 per watt, which is along the higher end of the price range. For a typical, 6kW solar panels system, New Hampshirites should budget around $16,980.

Where this investment pays off is in the electricity bills it offsets. New Hampshirites are some of the most energy-conscious people in the country, but with incredibly high power rates, they still end up paying over $130 a month on average. With low utility needs and high electricity rates, homeowners in the Granite State are in a position to save an incredible sum.

To help get the ball rolling, New Hampshirites should utilize the federal solar tax credit. This program offers a tax return worth 30% of all purchases toward a residential solar array. When applied to a 6kW system, homeowners can see the price drop from $16,980 to $11,886.

How Much Solar Do New Hampshirites Need?

The above example breaks down the average cost of solar panels as they relate to a typical system. However, because of the low use of power in the Granite State, homeowners might need a different-sized array. 

To determine how much wattage your solar panels in New Hampshire should produce, you’ll divide your household’s average daily power usage by the amount of direct sunlight you receive. We’ll use New Hampshire’s averages to show how this works.

Homeowners in the Granite State typically use 21kWh a day (or 630kWh a month). When we divide that number by the state’s average peak sun hours of 4.61, we learn that a solar panel system needs to create 4.6kW an hour. Well, on the lower side, New Hampshirites could expect to pay about $13,081 for this array, almost $4,000 less than the first example.

Now that you know how to size your solar panels in New Hampshire properly, you can begin creating an accurate budget. Because sunlight varies depending on location, you can use this New Hampshire sun chart to find the number of hours for your nearest city.

New Hampshire Solar Cost Factors

As briefly mentioned, sunlight and location make up a large portion of solar panel costs. In New Hampshire, where the state stretches from north to south and features large mountain ranges, some homeowners might experience more sunlight than others. For example, New Hampshirites in Colebrook may only receive 4.1 peak sun hours on average, about 30 minutes less a day. 

To see how sunlight affects solar costs depending on location, compare New Hampshire to some of its neighboring states:

Another factor that affects the price of solar panels in New Hampshire is the type of equipment used. We can follow geography here too; those living in Southern New Hampshire or out of the mountain range could save money with polycrystalline panels. However, those that experience less sunlight or frequent inclement weather should consider investing in monocrystalline equipment.

When you start budgeting for a solar panel system, don’t overlook installers. While you might feel tempted to choose an affordable company, they may be cutting costs in equipment quality, labor, or warranty coverage. In New Hampshire, there are over 20 solar installers to choose from. This means you’ve got plenty of options to find the best company for your needs.

Best Solar Installers in New Hampshire

Homeowners can save over $22,000 with solar panels in New Hampshire

©Victor Yarmolyuk/Shutterstock.com

When reviewing installers for solar panels in New Hampshire, we trust EnergySage’s pre-screening standards. With endorsements from major industry agencies, this company guides consumers to choose the right company in their area. EnergySage’s pre-screening qualifications include: 

  • Years of experience
  • Contractor transparency
  • Equipment and warranty quality
  • Licenses and certifications

Here are two of our top choices for solar installation companies in the Granite State.

Sunergy Solutions LLC is a regional installer with its headquarters located in Londonderry, New Hampshire. While they serve the New England area, this company knows the ins and outs of solar energy in the Granite States. While still young in the industry, Sunergy Solutions has an important NABCEP certification and offers 20-year workmanship warranties. With a track record taking off in the right direction, you can trust this installer to take care of your solar array.

However, if you’re not ready to trust a new company, you won’t go wrong with NuWatt Energy. While this installer provides services across the country, they started business in New England. From a dedicated office in Salem, NuWatt Energy uses its 24 years of experience to provide industry-leading services. You can expect this company to come prepared with top equipment, including Panasonic and Enphase, and backing their work with a 25-year service warranty.

Can Solar Energy Save New Hampshirites Money?

Homeowners in the Granite State have some of the best opportunities in the country to save money with solar panels. With low power usage and high utility rates, New Hampshirites can pay off an array quickly and start earning back huge amounts by offsetting their electricity bill. Let’s break this down below.

First, we want to discover how long it takes to cover the cost of a solar panel system. If we use an average annual utility bill of $1,562.64 to offset the price of a 6kW array, New Hampshirites can pay it off in 10.9 years. While this runs a little higher than usual, it’s good to remember that residents of the Granite State often need smaller systems, lowering the total price.

After paying off their solar array, New Hampshirites will start earning money back. Considering an average life expectancy of 20-25 years for solar panel systems, homeowners could save $14,376 to $22,033. That’s a pretty good amount to earn back, and with the Granite State’s solar benefits, those numbers only rise.

Solar Panels in New Hampshire: Rebates, Credits, and Incentives

New Hampshire is one of the more progressive states when it comes to solar energy. Based on a decent set of renewable standards, homeowners have access to a variety of state and municipal incentives. These help lower the cost of an installation and even offer bonuses on energy produced over time.

At the start, New Hampshirites can take advantage of the 30% federal solar tax return. Receiving a credit for all solar purchases, including equipment, labor, and sales tax, residents can save over $5,000 or more. And with rebates, net metering, and other regulations, homeowners can continue to cut the cost of solar panels in New Hampshire. 

For a breakdown of available benefits in the Granite State, check out this article.

Frequently Asked Questions

Is solar worth it in New Hampshire?

Although solar panel rates in New Hampshire are on the higher end, expensive electricity and decent sunlight make an installation worth it. Homeowners that switch to solar energy can save up to $22,000 or more.

How much does solar cost in New Hampshire?

In New Hampshire, homeowners can expect to pay about $2.83 per watt for solar energy. This equals around $16,980 for a 6kW system.

How long does it take for solar panels to pay back in New Hampshire?

With an average annual utility bill of $1,562.64, New Hampshirites can pay off a 6kW system in about 10.9 years. While this is slightly higher than normal, this number drops if homeowners install a smaller system.

Can you get a federal tax credit for solar panels in New Hampshire?

Homeowners in New Hampshire can save 30% on all solar purchases by utilizing the federal solar tax credit. This program can save residents of the Granite State over $5,000 or more on an installation.

To top