Cost of Solar Panels in New Hampshire: Local Solar Installation Prices (2022)

Here’s a quick look at the estimated cost of solar in New Hampshire:

  • Average Cost Per Watt: $2.91
  • Cost of Average System: $13,997*
  • Cost of Energy Without Solar: $47,324
  • Payback Period: 9 Years**
  • Lifetime Savings of Going Solar: $28,409

*Average system size is calculated using data from the Energy Information Administration. This price is after tax credit.
**Payback period is calculated assuming the system is purchased in cash.

Ecowatch Author Karsten Neumeister

By Karsten Neumeister, Solar Expert

Updated 5/19/2022

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Find Cost Savings on Solar in New Hampshire

As a homeowner in New Hampshire, you may be wondering: How much do solar panels cost in your area? In this article, we’ll discuss the average cost of a solar installation, how much that can save you on energy for your home and what incentives are available in your region. If you want to jump straight to getting a quote for an installation, you can follow the links below to speak with a verified professional

Jump to Section:

  1. Cost of Solar Panels in New Hampshire
  2. Solar Panel System Installation Cost in New Hampshire
  3. What Determines the Cost of Solar Panels in New Hampshire
  4. New Hampshire Solar Incentives
  5. Best Solar Panel Brands and Installed Solar System Costs in 2022
  6. FAQ: Solar Panel Cost New Hampshire

 

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Cost of Solar Panels in New Hampshire

Solar panels in New Hampshire average around $2.91 per watt, above the national average of $2.66 per watt. Most homeowners in the Granite State find that they need a 6.5-kW system to offset electricity costs entirely. Based on the average per-watt price, that means most systems will cost around $18,915 before the federal tax credit or $13,997 after.

This total cost is well below the national average because the system size needed is smaller than in most states. New Hampshire residents don’t use much energy, comparatively, but the electricity rates are high — 21.17 cents per kilowatt-hour as opposed to a national average of 14.7 cents — making solar a worthwhile investment for most.

Solar Panel System Installation Cost in New Hampshire

When you’re estimating the cost of your solar power system, the most crucial factor to consider is the size of the solar system, which is based on your monthly energy needs. Every kilowatt you need to add to your system will bump up your total costs by nearly $3,000, so the system size is the most significant cost factor. The table below provides standard system sizes in NH, along with pricing before and after the federal tax credit.

Size of Solar Panel System New Hampshire Solar Panel Cost Cost After Federal Tax Credit
4 kW $11,640 $8,614
5 kW $14,550 $10,767
6 kW $17,460 $12,920
7 kW $20,370 $15,074
8 kW $23,280 $17,227
9 kW $26,190 $19,381
10 kW $29,100 $21,534

Want to get a free quote for solar but not sure which company to turn to in New Hampshire? Click here to see our review of the top solar installers in your area.

What Determines the Cost of Solar Panels in New Hampshire?

System size is the most impactful cost factor when it comes to your solar system, but there are other things that can have a massive impact on your total as well. We’ll discuss three other major cost factors in New Hampshire below.

Solar Equipment

You’ll pay labor and equipment charges for your solar panel installation. While labor is a factor that can affect your price, the equipment you select will have a greater impact on costs.

First, you need to consider the brand of equipment you want. Every solar equipment brand varies in durability, energy production and, most importantly, cost. Selecting one of the most efficient solar panel brands — like Maxeon panels from SunPower — will usually lead to higher upfront costs. However, higher efficiency could pay off in the long run and help you save more on electric bills than choosing one of the more affordable solar panel brands.

Second, you’ll want to balance the equipment that you want with your budget. Most solar installations include panels and inverters for interconnection and net metering. Some homeowners opt for add-on equipment to customize their setup. For example, installing a Tesla Powerwall or other solar battery to provide power during an outage or an electric vehicle charger could increase your costs by thousands or even tens of thousands of dollars.

Solar Financing

Many homeowners in New Hampshire will undoubtedly look at the average $18,915 price tag for going solar and decide against clean energy for financial reasons. Thankfully, solar loans are available from most solar installers and from third-party lenders. Solar loans make going solar far more accessible, but they do come at a cost: you’ll have to pay interest on top of your equipment and labor charges.

Some people will only be able to secure a high-APR loan, which could tack on thousands of dollars over the life of the loan, which is usually between five and seven years. Even low-APR loan options will likely add quite a bit to your total costs. Regardless of your APR, you can reduce your all-in costs, including interest, by increasing your down payment. The more you pay now, the less you’ll pay in interest over time.

Solar Installation Company

Finally, the solar installer you choose will have an effect on your pricing. No company charges precisely the same for labor, equipment and warranties, so the same system from two companies will come with different costs, service and warranty coverage.

You’ll have to assess companies on value as well as cost, though. Some companies only provide access to high-quality equipment, like SunPower panels or Tesla Powerwalls. These installers will naturally be more expensive but could be worth the added investment in the long run.

You can start by determining the size of the company. Larger national installers usually have lower prices but sometimes don’t have many equipment brands or customization options available. Smaller local companies sometimes offer deals and sales to undercut the bigger competitors, and they typically have better customer service and more flexibility with equipment brands and types.

New Hampshire Solar Incentives

New Hampshire is considered a very solar-friendly state, which is to say that there is a multitude of tax incentives, credits and rebate programs available to homeowners. We’ll discuss all of the solar incentives available in New Hampshire below.

Federal Solar Tax Credit For New Hampshire Homeowners

The most sizable credit or rebate that New Hampshire residents will receive for going solar is the federal solar investment tax credit (ITC). The federal government incentivizes converting to renewable energy by offering a 26% rebate for all solar equipment and installation costs. In New Hampshire, that averages out to a typical rebate of $4,918.

This massive credit will only be available in 2022. In 2023, the rebate percentage will dip to 22% — meaning an average credit of $4,161 — and the benefit will be eliminated in 2024. Congress could renew the bill for installations after 2023, but the rebate amount will likely be lower than 22% even if it does.

Net Metering Policies in New Hampshire

Net metering is a policy that allows two-way energy movement between your home and the electric grid. When your solar panels fail to produce the energy your home is using, the grid will make up the difference, and you’ll be billed for the energy consumed. When your panels are overproducing, the excess goes to the power company, and you earn energy credits. Credits can be used to reduce your bill in future billing cycles.

If you have Eversource, Liberty Utilities, New Hampshire Electric Cooperative or Unitil as your power provider, net metering is available to you. Eversource has the best net metering policy in the state, with no cap on overproduction on systems up to 100 kW — virtually every home solar project — and unlimited roll-over up to 600 kWh per year. This makes it very easy to eliminate your electric bills in New Hampshire.

Local Solar Rebates in New Hampshire

In addition to the benefits of net metering and the federal tax credit, New Hampshire homeowners have access to several other incentives.

First, homeowners throughout the state can earn money with their solar panel systems by accruing and selling Renewable Energy Credits (RECs). RECs are earned naturally for all energy you produce via solar panels or other renewable sources. The state mandates that power companies pay homeowners for RECs annually, so your electric company will pay you rather than the other way around if you produce enough energy.

Perhaps most important to homeowners is the solar property tax exemption in NH. Most home improvements — including going solar — increase the value of your home. When the value increases, so do your property taxes. The property tax exemption, however, means that your taxes won’t increase from installing your solar equipment, even though your home value will. This could save thousands or tens of thousands of dollars over the life of your system.

New Hampshire has also established solar access laws, which guarantee every homeowner access to solar energy. That means that you can install solar panels even if you live in a strict HOA that prohibits other exterior renovations, and you can rest assured that your panels will never be blocked by neighbors or buildings in the area.

There might be additional rebates available for your particular municipality or electric company. You can check the DSIRE database for more information.

Best Solar Panel Brands And Installed Solar System Costs in 2022

The EcoWatch team reviewed many equipment brands to determine the best solar panels available in New Hampshire. The table below provides some of the most popular and most efficient brands, along with a relative pricing guide to help you visualize how each might fit into your budget.

Solar Panel Brand Average Cost Per Watt ($-$$$$$)
LG Solar $$$
Canadian Solar $$$
JA Solar $$
Mission Solar $$
Panasonic $$
Q Cells $$
REC $$$
Silfab $$$
SunPower $$$$$
Tesla $$
Trina Solar $$$

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People Also Ask

EcoWatch FAQ: Solar Panel Cost New Hampshire

We get tons of questions from New Hampshire homeowners about converting to clean energy and what the process costs. Below are the questions we see most frequently.

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Karsten Neumeister

Solar Expert

Karsten Neumeister is a solar energy specialist with a background in writing and the humanities. Before joining EcoWatch, Karsten worked in the renewable energy sector of New Orleans, focusing on solar energy policy and technology. A lover of music and the outdoors, Karsten might be found rock climbing, canoeing or writing songs when away from the workplace.