2024 Solar Incentives Guide for Hanover, NH - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Hanover.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2024 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Hanover solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Hanover?

Local Option - Property Tax Exemption for Renewable Energy and Electrical Energy Storage

Incentive Type:
Property Tax Incentive
Varies (local option)

Residential Small Renewable Energy Rebate Program

Incentive Type:
Rebate Program
$0.20/watt

Eversource - Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Lighting: Online discounts & coupons at participating retailers
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
Dehumidifier: $25
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

Incentive Type:
Rebate Program
$1,500, $1,700 or $1,900, depending on annual estimated system output

Residential Bulk-Fed Wood-Pellet Central Boilers and Furnace Rebate Program

Incentive Type:
Rebate Program

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


Solar incentives are intended to make renewable energy usage more affordable through financial incentives to help people install solar panels on their homes. You might be eligible for various types of incentives, such as discounts, cash back or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the New Hampshire government and others from the federal government. You might qualify for any of the following types of solar incentives:

  • Rebates: Rebates, or cash back after a purchase, are typically applied before any solar tax credits are calculated. Rebates might be offered by your local utility company, by your county or by your state.
  • Net Metering: You can sign a net metering contract with your Hanover utility company that will apply to all or a percentage of the excess electricity that is generated by your solar panels. They will then subtract this value from your monthly utility bill.
  • Tax Credits: Tax credits lower, dollar-for-dollar, how much income tax you owe the government. Tax credits are different from tax deductions.
  • Tax Exemptions: Your solar panels may qualify for both sales tax and property tax exemptions. Sales tax exemptions are effective at the time of purchase. Property tax exemptions allow you to exclude the added value of the solar panels when you are calculating property taxes on your house.

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2
  • 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

Federal Solar Incentives

Federal incentives are the type of incentives that you are most likely to have heard of. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. The ITC is a tax credit equal to a predetermined percentage of the money you spend on solar panels for your home.

The ITC can be applied to a solar system installed on your primary or secondary residence in the United States. The solar panels have to have been installed on a property you own after January 1, 2006, for you to claim the credit. Originally, the ITC covered 30% of all system installation costs (panels, accessories, labor and equipment), although this amount has fluctuated slightly over time between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the amount you can claim.

To find out exactly how much money the ITC could save you, get in touch with your local Hanover solar panel installer.

The ITC was both renewed and expanded by the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. For solar systems installed between January 1, 2022, and December 31, 2032, homeowners can receive a credit for 30% of the total cost. This percentage will decrease annually after 2032 until the Clean Energy Credit ends in 2035. The program expansion also makes claiming credit for energy storage systems easier than ever before, beginning in 2023.

More information about the new Inflation Reduction Act can be found here. To better understand how the new Clean Energy Credit will apply to you, talk to your local Hanover solar installation company.

State & Local Solar Incentives

Tax credits, rebates and more might be claimed at multiple levels. On top of federal solar incentives, there are often state and local ones as well. Certain incentives are ongoing, while others might only be available for a limited time. Solar incentives might be offered by the New Hampshire government, or by your county or municipality.

Next Steps for Installing Solar in Hanover

There are many kinds of solar incentives: those given by local utility companies, those offered by the New Hampshire government and those given by the federal government, to name a few. The use of solar energy has grown enormously in the last 15 years, partially thanks to these incentives. Contact your local solar panel installation company today to discover more about the various programs and to save as much money as possible on solar panels for your Hanover home.

EcoWatch's Hanover, NH Solar Incentives FAQs

How do I learn if I qualify for specific solar incentives?

It's a smart idea to get in touch with your local Hanover solar installer for a better understanding of which incentives your project will qualify for. Usually, solar incentives apply to new solar panel systems installed on property you own (in the U.S.) within a specified date range. Some incentives, such as those given by the state of New Hampshire, might have additional requirements.

I already have solar panels installed. Does my system qualify for any incentives?

You should plan to talk to someone from the company that installed your solar panels – or speak to a local Hanover solar installer — to learn about which incentives you might qualify for. If your system was installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Solar systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

What are the best solar panel installation companies near me?

To discover the best solar panel installers near you, take a look at our article on the best solar companies in Hanover.

Can I use a combination of solar and another type of renewable energy to power my home?

You can use multiple types of renewable energy, or a combination of renewable and non-renewable energy, to power your home. Make sure you go over your plan with your local Hanover solar installer. They can help you plan your project and educate you on the various incentives that you might or might not qualify for.

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.

Follow us