Solar Panels in New Hampshire | 2022 Cost and Incentives | SaveOnEnergy®

New Hampshire Solar Panels: Pricing and Incentives

How much do solar panels cost in New Hampshire?

home with solar panels on the roof

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Solar power in New Hampshire

New Hampshire has been growing its solar energy industry over the last few years. Although ranked 40th in the U.S. for solar installations in 2020, the state jumped to 36th by 2021. About 1.12% of New Hampshire’s electricity currently comes from solar energy, with over 27,800 homes powered by solar.

New Hampshire homeowners should consider investing in a home solar system. Residential systems help homeowners save on electric bills while utilizing renewable energy. As a whole, New Hampshire has invested over $400 million into the expanding industry. With over 80 solar companies based in the state, most focus on manufacturing renewable energy. Solar energy costs have decreased 50% in the last 10 years and should continue to become more accessible and affordable to the average homeowner.

New Hampshire solar panel cost

It is natural for homeowners to be curious about the total cost of residential solar panel installation. Solar energy costs are measured in dollars per watt. The median cost of a residential system is $3.07 per watt in New Hampshire. Costs vary depending on energy usage. Larger systems generally cost more than smaller ones, and panel brand can also influence the cost. 

Only about 30% of the total cost of solar system installation comes from the inverters and panels alone. Inspections, wiring, permitting, mounting, and labor can increase the overall price of installation. The median cost of a full residential solar system in New Hampshire is $25,581 before any tax credits or state rebates. Luckily, the savings from energy costs can help you recover the initial investment in as early as six to nine years.

Price Per Watt System Size (kW) Cost
High $3.64 11.4 kW $41,507
Median $3.07 8.3 kW $25,581
Low $2.61 6 kW $15,681

Get an exact quote from our solar advisors

The SaveOnEnergy marketplace helps you search, compare, sign up and save on the right energy fit for your home — all for free. If you’re interested in solar, answer a few questions to get an exact price quote from our solar advisors.

1. Complete the form below
2. Schedule an appointment with a solar advisor
3. Get an exact price quote for solar panels for your home

New Hampshire solar panel incentives or rebates

Federal tax incentives and state rebates could help you offset the out-of-pocket cost of your residential solar system.

If you installed solar energy in your home, you may be able to claim the Residential Clean Energy Credit, formerly known as the Investment Tax Credit (ITC). Created in 2005, eligible participants can claim up to 30% of the total system cost on their federal taxes if they install solar panels in 2022. The credit helps make solar accessible to more residents because it offsets installation costs. 

On top of the federal tax credit, the state of New Hampshire ensures you will not have to pay property tax on the value solar panels add to your home. 

Low-Income Energy Assistance Program (LIHEAP) This program provides financial support to lower-income homeowners who want to invest in renewable energy options. You can also receive energy credits on your bill if you return excess energy to the power grid.
Local property tax exemptions Some New Hampshire cities and towns allow residents to not pay property taxes for the amount that added solar panels bring to your home value.

Why choose New Hampshire solar power?

Lower energy costs 

Installing solar panels in your New Hampshire home requires a financial investment up-front. However, the goal of any residential solar system is to lower energy costs. Once you begin using solar energy, your monthly electric bill may decrease. In New Hampshire, you can even sell unused energy back to the power grid for a credit to help offset the cost. Your solar system will likely pay for itself after an average of six to nine years. Once you have recouped your initial investment, you will enjoy lower utility bills for the life of your home. Another bonus is that your home value may increase up to $15,000 for installing a solar system.

Establish energy independence

Solar panels are a great solution for anyone looking to establish energy independence. In situations that lead to high demand on the power grid, you can rely on your solar energy supply. If you choose to install a battery with your system, you do not have to worry about power outages. Your solar system even helps to curb the country’s dependency on imported fossil fuels.

Go green

Renewable energy may be cost-effective for your home but is invaluable to the planet. Unlike fossil fuels, solar power does not emit greenhouse gasses and other pollution into the atmosphere. Studies by the Office of Energy Efficiency and Renewable Energy show that solar energy can mitigate climate change, reduce pollution-related healthcare costs, and decrease water scarcity. Switching to solar power is an easy way to reduce your New Hampshire home’s carbon footprint.

Should I buy or lease my solar panels?

New Hampshire homeowners can buy or lease a residential solar system. Some homeowners or renters can participate in community solar sharing, which is when you buy solar energy from a shared main source. Despite an initial investment, purchasing your system upfront is more cost-effective in the long term. The biggest benefit to buying your solar system is recouping the costs in savings from your monthly electric bills. Another advantage is that your home’s resale value can increase by up to $15,000 after installation. You can also select what setup you need for your home’s specific energy needs. Buying your solar panels may also qualify you for federal tax credits or state incentives.

High installation costs could limit many New Hampshire families from obtaining solar power. Since renewable energy is so beneficial, some companies provide the option of solar leasing. Leased systems comprise about 28% of solar power systems in the U.S. The main benefit of leasing a solar system is the monthly savings on your electric bills. Leasing contracts can last up to 25 years, so one downside is that you’ll need to find a buyer who can take over your lease if you sell your home. 

New Hampshire solar panel companies

Although solar panels have many benefits, homeowners should research solar power installation first. There are many reputable New Hampshire solar installation companies to choose from. You want to select  the right system and installation company for your home. Before deciding , consider customer service ratings and a company’s established experience. You should also look for a company that offers a long warranty on their service. Maintenance costs of damaged or defective panels may also fall under the warranty offered by your solar installer. Researching the solar industry may save you time and hassle in the long run. The resources available through SaveOnEnergy are a great place to start. You can fill out this form or call our energy experts at 866-420-6556

Important solar installation factors to consider

Before leaping into solar panel installation, there are several factors to consider. Not all homes are suited for optimal solar harvesting, even when you live in an ideal climate.

  • Roof condition: Your home’s roof plays a huge role in determining how well solar panels will perform. The size, position, shape, and even the slope of your roof can increase or decrease panel effectiveness. A south-facing roof is considered optimal, especially when angled at 15 to 40 degrees. 
  • Sunlight: Living in a sunny area does not automatically mean your home qualifies for solar energy. Although it depends on where you live in New Hampshire, most areas see over 100 days a year with sunny or partly sunny weather. However, the important thing is that there is nothing obstructing sunlight from your roof, such as trees. Your panels won’t be able to generate as much electricity if they don’t receive sun. 
  • Neighborhood requirements: Some neighborhoods restrict construction to a home’s exterior. Before installing solar panels, ensure your HOA or local community does not require prior approval. The company that installs your panels may also be able to help you navigate potential rules.

Solar power FAQs

How much would solar cost in New Hampshire? Expand / Collapse Toggle

The median cost of solar panel installation in New Hampshire is $3.07 dollars per watt, or $25,581 per system. This price does not factor in the current federal tax credit of 30% or any state incentives available to offset costs. Your home size, panel quality, and the addition of a battery may influence the price.

Is solar power a good investment in New Hampshire? Expand / Collapse Toggle

Solar energy may be a good investment for your New Hampshire home if your location and roof will harness solar power. If your home has the capacity for adequate energy, compare the costs and benefits. You could save on monthly electric bills and potentially earn back the installation costs within a decade.

How much could I save by investing in solar? Expand / Collapse Toggle

Your potential electricity bill savings will depend on your average energy consumption. Larger systems or homes with less optimal solar capacity may see smaller savings. However, homes that generate a lot of power can sell excess energy back for future bill credits. These homeowners are likely to save more with their investment.

Where can I find a good solar panel installer in New Hampshire? Expand / Collapse Toggle

SaveOnEnergy provides many resources for homeowners considering solar energy. Before signing a contract, research the company’s reputation. Check each of their customer service ratings and look for warranties. A quality installation company usually provides an extended warranty on their service. There are 55 solar companies throughout New Hampshire, including manufacturers and installers.

How does solar power help the environment? Expand / Collapse Toggle

Solar power is an excellent source of renewable energy. Solar power plants do not emit greenhouse gasses into the atmosphere. While fossil fuels increase pollutants in the atmosphere, solar energy helps reduce pollution. Solar panels are also minimally invasive to the surrounding environment.