Embrace Solar Power with New Hampshire’s Generous Incentives and Rebates
While New Hampshire may not be the sunniest state, receiving only 67.61% of the maximum potential sunlight, its high electricity rates make adopting solar energy an attractive option for residents. Fortunately, New Hampshire is a leader in renewable energy initiatives, with robust Renewable Portfolio Standards (RPS) that require utilities to generate 24.8% of their electricity from renewable sources by 2025 or face substantial penalties.
This regulatory environment has paved the way for a wide range of solar incentives and rebates that property owners can leverage to make the switch to solar power more affordable and accessible. Here’s a closer look at the key solar incentives available in New Hampshire:
New Hampshire’s Solar Carve-Out
The state’s RPS includes a solar carve-out, which mandates that a modest 0.3% of the renewable energy generation comes from distributed solar systems. This provision helps drive demand for residential and commercial solar installations.
High Electricity Rates Boost Solar Savings
With some of the highest electricity rates in the nation, investing in solar power becomes increasingly financially beneficial for New Hampshire residents. The more you can offset your utility bills with solar-generated electricity, the greater your long-term savings.
Net Metering Rewards Solar Households
New Hampshire has strong net metering laws that allow solar system owners to earn credits for any excess electricity they send back to the grid. These credits can then be used to offset future utility bills, maximizing the value of your solar investment. Systems under 1 megawatt in capacity are eligible for net metering credits.
Low-Income Energy Assistance Program
For households struggling with energy costs, New Hampshire’s Low-Income Home Energy Assistance Program (LIHEAP) provides financial aid that can be combined with a solar lease or loan to make adopting solar power more accessible.
Streamlined Interconnection Standards
The state’s interconnection standards simplify the process of connecting solar systems to the utility grid, reducing installation costs and improving the reliability of net metering.
Generous Solar Rebates
New Hampshire offers a variety of rebate programs for property owners going solar, with systems up to 10 kW in size eligible for generous rebates that can significantly lower your upfront costs.
Property Tax Exemptions for Solar
Installing a solar system typically increases a property’s value, but in New Hampshire, you won’t pay higher property taxes as a result. The state exempts the “solar bump” from property tax assessments, providing an additional financial incentive for both residential and commercial solar adopters.
Federal Solar Tax Credit
On top of New Hampshire’s solar incentives, you may also qualify for the federal Residential Clean Energy Credit (formerly known as the Investment Tax Credit or ITC). This tax credit allows you to deduct 30% of the cost of your solar system from your federal taxes, further reducing the net cost of going solar.
With such a robust suite of incentives and rebates, it’s never been easier or more affordable for New Hampshire residents to embrace the benefits of solar power. Take advantage of these generous programs and start saving with clean, renewable energy today!
