2023 Solar Incentives Guide for Dover, NH - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Dover.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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By EcoWatch Local Advisors
Data Analysis: James Savino
Ranking Methodology: Karsten Neumeister
Updated May 04, 2023
Why you can trust EcoWatch
What Solar Tax Credits, Incentives, and Rebates are Available in Dover?
Local Option - Property Tax Exemption for Renewable Energy and Electrical Energy Storage
Residential Small Renewable Energy Rebate Program
Eversource - Residential Energy Efficiency Rebate Program
LED Light Fixture: $5
Heating/Cooling Equipment: Up to $400
Heat Pump Water Heaters: Up to $600
Clothes Dryers: up to $200
Clothes Washer: Up to $50
ENERGY STAR Homes: $4,000
Natural Gas Heating Equipment: Up to $1,500
Natural Gas thermostats: Up to $100
Pool Pumps: Up to $500
Refrigerator and Freezer Recycling: $30
Refrigerators: Up to $75
Room Air Conditioner: $20
Room Air Purifiers: $40
Residential Solar Water Heating Rebates
Residential Bulk-Fed Wood-Pellet Central Boilers and Furnace Rebate Program
Federal Residential Renewable Energy Tax Credit
Solar incentives are designed to make renewable energy usage more affordable via financial incentives for those who install solar panels on their homes. Solar incentives may include upfront discounts, cash back or credit towards your monthly utility bill. Some incentives are given by the federal government, some by the New Hampshire government and some by your utility company, county or municipality. You might qualify for any of the following types of solar incentives:
- Tax Exemptions: Your solar system may qualify for exemptions on both sales and property tax. Sales tax exemptions are effective at the time of purchase. Property tax exemptions let you ignore the value added by your solar panels when calculating property taxes on your house.
- Rebates: Rebates, or partial refunds after a purchase, are usually applied prior to any solar tax credits being calculated. Rebates may be provided by your local utility company, by your state or by your county.
- Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government. (A tax credit is different from a tax deduction.)
- Net Metering: Net metering factors in after your solar panels are up and running. If you have a net metering agreement with your Dover utility company, it will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some places, this credit is dollar-for-dollar, while in others you may receive a refund equivalent to a percentage of the value.
Federal Solar Incentives
When thinking about solar incentives, you probably think of federal incentives first. A federal incentive many people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a predetermined percentage of the cost of your solar system.
The ITC originally covered 30% of the cost of solar panel installation, although that number has fluctuated slightly over the last few years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The total installation cost includes the panels themselves as well as the cost of accessories, labor and equipment. There is no maximum amount you can claim. The ITC applies to solar panels installed after January 1, 2006 on your primary or secondary residence. The residence must be in the United States and owned by you.
To best understand how the ITC might apply to you, reach out to your local Dover solar panel installation expert and request more information.
In August 2022, the Inflation Reduction Act made revisions to the ITC, now referred to as the Clean Energy Credit. For solar system installations that begin after January 1, 2022 and are completed by the end of 2032, homeowners may be eligible for a credit equal to 30% of the total cost. The percentage will then decrease annually until the Clean Energy Credit expires in 2035. Beginning in 2023, it will also be easier to get credits for energy storage systems with the new act.
More information about the new Inflation Reduction Act can be found here. Your local Dover solar panel installer can answer any questions you have and explain how the new Clean Energy Credit applies to you.
State & Local Solar Incentives
Some solar incentives may be offered at the local or state level. Similar to federal incentives, these could include tax credits, rebates and more. These incentives — which may be handled by the state of New Hampshire, or by your county or municipality — might be offered on an ongoing basis, or for only a limited time.
Next Steps for Installing Solar in Dover
You can qualify for solar incentives from the federal government and the New Hampshire government, as well as from your local utility company. Growing availability of solar initiatives in the past 15 years has helped greatly increase nationwide adoption of solar energy. Speak with your local solar panel installer today to learn more and to save as much money as possible on solar panels for your Dover home.
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Dover, NH Solar Incentives FAQs
What if I want to add a solar system to a vacation home, rental property or commercial property? Do I still qualify for incentives?
Many solar incentives are intended to apply to a property located within the United States that you own, and most secondary residences will fall under this distinction. There may be other solar incentives available for commercial properties, depending on the specifics. We recommend reaching out to your local solar installer and/or tax professional to best understand what incentives apply to your specific situation.
How can I learn if I qualify for solar incentives?
Generally, solar incentives apply to:
- a new solar system
- installed on a property that you own
- within the U.S.
- within the date range specified by a particular incentive.
Specific incentives, including ones handled by the New Hampshire government or by your county/municipality, could have additional qualifications. Speak with your local Dover solar installer to learn more about what incentives your project will qualify for.
My home already has solar panels installed. Does my system qualify for any incentives?
Your best bet is to talk to a representative from the company that installed your system — or speak to a local Dover solar installer — to clarify which incentives you may qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Solar panels installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
What are the top solar panel installation companies near me?
To find the top solar panel installation companies near you, take a look at our article on Dover's top solar panel companies.
What are the environmental benefits of switching to solar energy?
You can reduce your carbon footprint by 200 pounds of CO2 annually by installing solar panels. This adds up to roughly 4,000 pounds over 20 years. In addition, solar power is a renewable energy source, meaning that switching your home over lessens the drain on our planet's resources.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.