Nh Solar Panel Incentives

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.

Nh solar panel incentives.

Your net cost for the solar power system after applying the federal incentive is 11 844. Solar offsets enough of it to save you about 1 569 in year 1 and it just goes up from there. Regardless of the exact cost of installation there are many affordable financing options for solar panel systems. Over 25 years your system will have produced about 33 400 in income.

The incentive is 25 of system cost up to 10 000 and can be added to the state s generous incentive. 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. 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. The reason this works is that electricity in new hampshire is expensive.

The federal solar tax credit gives you a dollar for dollar reduction against your federal income tax. 3 the tax credit amounts to 30 of the cost of purchasing your solar system. The program pays 0 20 per watt up to 1 000 or half the cost of the system whichever comes first. In new hampshire the average solar payback period is 10 04 years.

Wood pellet commercial financial incentives available. What are the top solar rebates and incentives in new hampshire. New hampshire has a variety of incentives for homeowners going solar including. As the electric company raises rates you save more and more and more.

At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation. Small pv systems program.