Are you a New Hampshire resident considering making the switch to solar energy? You‘re not alone. While the Granite State currently ranks near the bottom in the U.S. for total solar energy production, interest in solar is growing rapidly thanks to the potential for big long-term savings on electricity costs.
In this article, we‘ll take an in-depth look at everything you need to know about going solar in New Hampshire, including:
• Current solar energy production and electricity costs in NH
• Factors that determine solar panel installation costs
• How to calculate the optimal solar panel system size for your home
• Profiles of the top local solar installers
• Solar incentives, rebates, and tax credits available in NH
• A financial analysis of the costs and long-term savings of solar panels
By the end, you‘ll have all the information you need to decide if solar panels make sense for your New Hampshire home. Let‘s get started!
Solar Energy in New Hampshire: The Current Landscape
According to the Solar Energy Industries Association (SEIA), New Hampshire had a total installed solar capacity of just 269 megawatts (MW) as of Q3 2022, ranking 39th in the nation. For comparison, neighboring Massachusetts ranks 8th with over 3,800 MW of solar installed.
However, New Hampshire‘s solar capacity has grown by an impressive 34% over the last year alone. The state also boasts some of the highest electricity rates in the country, with residential customers paying an average of 22.22 cents per kilowatt-hour (kWh) as of January 2023 – 70% higher than the national average. These high power costs are a major factor driving many NH residents to consider solar.
Average Solar Panel Costs in New Hampshire
According to data from EnergySage, the average cost of solar panels in New Hampshire is $2.83 per watt, which puts it on the higher end compared to the U.S. average of $2.66 per watt. For a typical 6 kilowatt (kW) residential solar panel system, New Hampshirites can expect to pay around $16,980 before applying any tax credits or rebates.
However, that‘s just an average – the actual cost of your solar panel installation will depend on a variety of factors, including:
• The size of your solar panel system in kW
• The specific equipment you choose (panels, inverters, mounting, etc.)
• The solar installer you hire
• Your location within New Hampshire
Let‘s take a closer look at two of the most important cost factors: system size and your location/amount of sunlight.
Determining Your Solar Panel System Size
The size of your solar panel system is the biggest factor in determining your total cost. Solar panel systems are measured in kilowatts (kW), with each kW representing 1,000 watts of electricity production.
To calculate the ideal system size for your home, you‘ll need to know two key pieces of information:
- Your average daily electricity usage in kilowatt-hours (kWh)
- The average amount of direct sunlight your location receives per day, known as "peak sun hours"
You can find your monthly and daily electricity usage on your utility bills, but here are the averages for New Hampshire to give you a ballpark idea:
• Average monthly electricity usage in NH: 630 kWh
• Average daily electricity usage in NH: 20.8 kWh
New Hampshire receives an average of 4.61 peak sun hours per day. So if we divide the state‘s average daily electricity usage (20.8 kWh) by the average peak sun hours (4.61), we find that the average New Hampshire home needs a 4.5 kW solar panel system to offset its entire electricity usage.
At the average cost of $2.83 per watt in NH, a 4.5 kW system would cost around $12,735 before incentives. That‘s over $4,000 less than the cost of a 6 kW system we mentioned earlier.
Of course, every home is unique. If your electricity usage is higher than average, you‘ll need a larger (and more expensive) system. But if you‘re an energy-conscious household that uses less electricity, you could potentially get away with an even smaller and cheaper solar panel setup.
Solar Panel Costs and Peak Sun Hours by Location
Where you live in New Hampshire will also impact your solar costs, as the amount of direct sunlight varies across different parts of the state.
For example, the town of Colebrook in northern New Hampshire gets an average of just 4.1 peak sun hours per day. With less available sunlight, Colebrook residents would need to install larger solar panel systems to generate the same amount of electricity as sunnier areas of the state. Larger systems = higher costs.
In contrast, southern New Hampshire cities like Keene and Nashua receive 4.7 to 4.8 peak sun hours on average. More abundant sunshine means these residents could meet their energy needs with smaller, less costly systems.
Here‘s a look at how New Hampshire stacks up to neighboring states in terms of solar costs and peak sun hours:
• New Hampshire: $2.83 per watt / 4.61 peak sun hours
• Massachusetts: $3.01 per watt / 4.56 peak sun hours
• Vermont: $3.20 per watt / 4.42 peak sun hours
• Maine: $2.70 per watt / 4.61 peak sun hours
As you can see, New Hampshire falls roughly in the middle of the pack for both solar costs and available sunlight compared to its neighbors. To get a more precise estimate of the peak sun hours for your specific location, check out this solar sun chart for New Hampshire.
Top Solar Panel Installation Companies in New Hampshire
New Hampshire is home to around 1,000 solar industry jobs and over 30 local solar installation companies. So how do you choose the right installer for your home solar project?
Here are some of the key factors to look at when comparing solar installers:
• Years of experience
• Licenses and certifications, such as NABCEP (North American Board of Certified Energy Practitioners)
• Quality of equipment and warranties offered
• Customer reviews and references
Two of the top local solar installers in New Hampshire are ReVision Energy and New England Clean Energy. Let‘s take a closer look at each:
ReVision Energy
Founded in 2003, ReVision Energy is the leading full-service renewable energy contractor in northern New England, with over 10,000 installations completed across New Hampshire, Maine, and Massachusetts. The company has an A+ rating with the Better Business Bureau and has been named a top solar contractor by Solar Power World magazine for 10 consecutive years.
ReVision Energy offers a wide range of high-quality solar panel brands, including REC, Panasonic, and Q Cells. They provide a 10-year workmanship warranty on all installations, as well as 24/7 system monitoring and a free appraisal if you sell your home after going solar.
Here‘s what some of their 200+ 5-star Google reviewers have to say:
"From start to finish, ReVision Energy provided exceptional customer service, quality workmanship, and a level of professionalism that is second to none. I would highly recommend them to anyone considering solar." – Jeff M.
"ReVision Energy did an outstanding job on our 24-panel solar array. The entire process was seamless and stress-free. Our electric bill used to be around $250/month – now it‘s down to just $12/month to stay connected to the grid!" – Sarah L.
New England Clean Energy
New England Clean Energy is another experienced local solar installer, with over 500 residential installations completed across New Hampshire, Massachusetts, and Rhode Island since 2006. They‘ve received the Northeast Sustainable Energy Association‘s (NESEA) Zero Energy Award and have an A+ rating with the Better Business Bureau.
One unique aspect of New England Clean Energy is that they‘re both a licensed solar installer and a licensed electrician. This allows them to handle every aspect of your solar panel installation, including tying the system into your home‘s electrical panel, without the need to subcontract any of the work.
The company installs solar panels from leading brands like LG, Panasonic, and Solaria. They also offer a comprehensive 10-year labor warranty, plus a production guarantee – if your system doesn‘t produce the amount of electricity promised, they‘ll pay you the difference.
Here‘s some feedback from their many satisfied customers:
"The entire team at NE Clean Energy was professional, knowledgeable, and a pleasure to work with. The installation was completed on time and on budget, and the results have been fantastic – we generated 96% of our electricity from solar last year!" – Mike D.
"I can‘t say enough good things about New England Clean Energy. They made the entire process easy to understand, and their service was top-notch from start to finish. We‘ve already recommended them to several friends!" – Karen T.
Of course, these are just two of the many reputable solar installers serving New Hampshire. When comparing your options, be sure to get quotes from multiple providers and read plenty of customer reviews before making your decision.
The Financial Benefits of Going Solar in New Hampshire
Now that we‘ve covered the upfront costs of solar panels in New Hampshire, let‘s take a look at the other side of the equation: the long-term financial benefits.
There are two main ways that solar panels can save you money:
- Reduced or eliminated electricity bills
- Solar incentives and rebates that lower your out-of-pocket costs
Let‘s start with the electricity bill savings. The average New Hampshire household spends $1,842 per year on electricity. If you install a solar panel system that generates 100% of your electricity needs, you could eliminate that expense entirely – potentially saving over $46,000 on power costs over the 25-year lifespan of your solar panels!
Even if your system only offsets a portion of your electricity usage, you‘ll still see substantial savings. For example, a solar panel system that generates 80% of your power needs could save you nearly $37,000 over 25 years.
Solar Incentives and Rebates in New Hampshire
In addition to slashing your electric bills, there are a variety of incentives available to make going solar in New Hampshire more affordable:
• The federal solar tax credit allows you to deduct 30% of your total solar installation costs from your federal income taxes. For the average 6 kW system that costs $16,980 in NH, that‘s a savings of over $5,000!
• New Hampshire offers a statewide property tax exemption for solar panels. This means the value that your solar panels add to your home can‘t be taxed by the state.
• Many utilities in New Hampshire offer solar rebate programs. For example, Eversource (NH‘s largest electric utility) offers a rebate of 25 cents per watt for solar installations up to 10 kW. On a 6 kW system, that‘s an additional savings of $1,500.
• Under New Hampshire‘s net metering policy, you‘ll receive credits on your electric bill for any excess solar power that your panels generate and send back to the grid. Those credits can be used to offset your power costs during times when your panels aren‘t producing enough electricity to meet your needs (like at night or on cloudy days).
When you factor in these generous solar incentives and rebates, the upfront cost of going solar in New Hampshire becomes much more manageable. Let‘s put it all together in our final financial analysis:
A Financial Analysis of Solar Panels in New Hampshire
Let‘s assume you install a 6 kW solar panel system at the average cost of $16,980. Here‘s how the financials break down over the 25-year expected lifespan of the system:
Upfront cost of 6 kW solar panel system: $16,980
- Federal solar tax credit (30%): -$5,094
- NH utility solar rebate (25 cents/watt): -$1,500
Total cost of solar after incentives: $10,386
Estimated 25-year electricity cost savings (100% offset): $46,050
- Total cost of solar panels after incentives: -$10,386
Total 25-year net savings: $35,664
As you can see, even with New Hampshire‘s relatively high solar costs, the combination of electricity bill savings and solar incentives results in an impressive return on investment over the lifetime of the system.
Keep in mind that this is just an example – your actual costs and savings will vary depending on your specific circumstances. Factors like your electricity usage, available sunlight, solar panel brand/installer, and eligibility for certain incentives will all impact your financial results.
The Bottom Line: Is Solar Worth It in New Hampshire?
So, is it worth it to invest in solar panels for your New Hampshire home? Based on the numbers, the answer is a resounding yes!
While New Hampshire residents do pay more for solar panels compared to some other states, the Granite State‘s sky-high electric rates and abundant solar incentives more than make up for the higher upfront costs. By going solar in NH, you could:
• Reduce or eliminate your monthly electric bill
• Protect yourself against future increases in electricity rates
• Take advantage of generous incentives to minimize your out-of-pocket costs
• Get a solid return on investment, with the potential to save tens of thousands of dollars over the 25+ year lifespan of your system
• Increase your home‘s resale value
• Help combat climate change by reducing your reliance on non-renewable energy sources
Of course, solar isn‘t right for every home. If your roof is heavily shaded or in poor condition, your home may not be a good candidate for solar. And if you‘re planning to move in the next few years, you may not own your home long enough to see a return on your solar investment.
But for the majority of New Hampshire homeowners, solar panels are an excellent way to save money on electricity costs while also doing your part to help the environment. If you‘re interested in going solar, we recommend getting quotes from several reputable local installers to find the best deal. And be sure to act soon to take advantage of the federal solar tax credit before it starts stepping down in 2033!
