Solar Panel Cost in New Hampshire (2023 Local Savings Guide)
Here’s a quick look at the estimated cost of solar in New Hampshire:
- Average Cost Per Watt: $2.91
- Cost of Average System: $13,240*
- Cost of Energy Without Solar: $47,324
- Payback Period: 9 Years**
- Lifetime Savings of Going Solar: $34,084
*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.
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 $13,240 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.
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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|
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What Determines the Cost of Solar Panels in New Hampshire?
Most homeowners want to know roughly what their solar panel systems will cost before they delve into the process of getting quotes. Unfortunately, it’s challenging to say what your total will be in New Hampshire without assessing your property specifically, but typical prices range from $8,614 up to $21,534.
Below, we’ll discuss some of the factors that determine where in this range your price will fall.
Equipment is the biggest cost factor when it comes to pricing out your solar panels. The brand and the add-on products you choose can both have significant effects on your total tab.
New Hampshire receives around 198 days of sun per year, which is below the national average of 205 days. Generally speaking, 198 days of sun produces enough power to offset electric bills in NH without the need for higher-cost high-efficiency panels.
In states that get less sun, these high-efficiency panels are needed to make the most of limited sunlight, raising the overall system cost. Luckily, New Hampshirites can get away without incurring this extra expense.
On the other hand, equipment prices in New Hampshire tend to be higher overall because of the need for solar batteries. New Hampshire experiences more power outages than most states because of heavy snowfall, nor’easters and other extreme weather events, so having solar batteries that can keep you switched on through outages is a great option.1
Solar batteries are add-on products that can cost tens of thousands of dollars, so choosing them, while convenient, will drive up your total system price.
Solar Financing in New Hampshire
The way you pay for your solar panel system will affect your total cost as well. There are two main options that will result in you owning your system — cash purchase and solar loan.
Buying with cash means you’ll have to come up with a large up-front payment, but you won’t have interest adding potentially thousands to your total system cost when all is said and done. For many homeowners, though, cash up front is not a viable option, so they choose the convenience and accessibility of a solar loan.
While New Hampshire is a solar-friendly state, there aren’t many statewide financing options available for solar systems. The Granite State does offer Property Assessed Clean Energy (PACE) financing, but only for commercial customers.
New Hampshire Solar Installation Company
The company you choose to handle your solar panel system installation affects your experience and the quality of your system, but it also impacts your pricing. Each company has different labor rates and can upcharge or discount equipment.
In most cases, these practices lead to modest price differences, but the type and brand of equipment each company carries and installs represents more significant differences — sometimes in the thousands of dollars.
For example, All Energy Solar, one of the best solar companies in New Hampshire, carries equipment from brands including Enphase, Tesla, Longi, JA Solar, REC and SolarEdge.
Venture Solar, another company operating in NH, only offers SunPower and LG. These are tier-one panel brands, while some of the options from All Energy are considered tier-two brands.
If you choose a tier-one brand from Venture Solar, your system cost will likely be thousands of dollar higher than if you chose a tier-two brand from All Energy Solar — but the system from Venture will be higher quality. This is why it’s important to assess companies based on value and not just on cost.
Additional Considerations and Costs in New Hampshire
Below are some additional things you should consider before choosing a solar installer for your project.
- Permits: New Hampshire requires that all homeowners planning to install solar panel systems have building permits pulled before any work begins. You should confirm with your installer that it will handle the permitting process.
- Licenses: NH requires that someone with a master electrician license complete or oversee solar installations. Licensing is crucial for a safe installation, so make sure your installer can provide the proper licensing.
- Warranties: Solar warranties protect your solar investment and your property, and help ensure your panels work as intended. Make sure you understand your warranties, and keep in mind that longer-lasting, more comprehensive coverage provides more benefit.
- HOAs: New Hampshire doesn’t have statewide solar rights laws — they’re left up to individual jurisdictions.2 You should check with your town or city to see if you need permission from your homeowners’ association to install solar.
- Environmental zoning: New Hampshire is pro-solar, and the zoning laws shouldn’t give you any issues with installing rooftop solar systems.
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 30% rebate for all solar equipment and installation costs. In New Hampshire, that averages out to a typical rebate of $5,675.
This massive credit is available to U.S. residents through 2032. In 2033, the rebate percentage will dip to 26%, and in 2034, it will dip to 22%. The rebate will expire in 2035 unless it is renewed.
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.
The Best Solar Panel Brands Available in New Hampshire
The table below includes some of the best solar panel brands available in New Hampshire. We’re also including relative pricing for each so that you can decide which ones are most likely to fit your budget and which will be a stretch.
|Solar Panel Brand||Average Cost Per Watt ($-$$$$$)|
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FAQs: 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. If you have specific questions that aren’t answered here, reach out to our team of solar experts at email@example.com.
The average cost to install a solar panel system in New Hampshire is $18,915 before the federal tax credit or $13,997 after the rebate. This is lower than the national average, given the smaller system size typically needed.
However, every homeowner’s cost will vary depending on home size, roof size, roof orientation, the equipment and installer chosen, monthly energy consumption, and much more. It’s best to get an estimate from a reputable solar company to see where your total will fall.
Yes, absolutely! Installing solar panels will increase home value anywhere but especially in a place like New Hampshire with great net metering and above-average electricity costs. Estimates from Zillow claim that homes receive a 4.1% bump in value from going solar. In New Hampshire, where the average home price is $400,929, that means a typical value increase of around $16,438!
It’s important to note that you’ll only enjoy this value increase if you acquire your panels via cash purchase or solar loan. Signing a solar lease or a Power Purchase Agreement (PPA) will not add value to your home.
In almost every case, it’s better to buy or finance solar panels in NH rather than lease them. Leasing is an attractive option to many homeowners given the minimal or nonexistent upfront cost, but it comes with many downsides.
Unfortunately, solar leases won’t add value to your home, so you’ll miss out on the average $16,438 boost in property value. Remember, this bump in value would be tax-free if you purchased or financed your solar panels, thanks to New Hampshire’s solar property tax exemption!
Additionally, solar leases don’t let you take advantage of the federal solar tax credit, which amounts to another $4,918 you’ll be passing up.
As if that’s not enough, leases lead to the smallest savings overtime on energy bills. Ultimately, buying or financing your panels will save you more money and come with far more benefits that outweigh the low upfront cost of a solar lease for most homeowners.
Yes! The excellent net metering program in New Hampshire and the low energy use across the state make eliminating your energy bills with solar possible and even probable. Provided you get a system size that fits your home — around 6.5 kW for most NH residents — your electric bills will very likely get reduced to $0 per month.
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