*Solar panel cost varies by location, solar panel mqanufacturer, system size and the amount of electricity your home uses.
Installing solar panels can help reduce your NHEC bill, thanks to Florida’s sunshine and the company’s net metering program! Combined with the 30% solar tax credit, KUA customers can see great savings when they switch to solar!
Probably. With the state’s $1,000 solar rebate program and local options for property tax abatements, home solar panels can make a lot of sense for New Hampshire Electric Cooperative customers. Unfortunately, NHEC imposes a member surcharge for anyone who wants to go solar every month. That amount can make your long term solar investment picture look not as bright. NHEC’s solar rate plan also allows you to at least get some credit on your power bill for the excess solar electricity your panels produce which you can’t use onsite. Your credits, while accruing at a much lower rate than you pay for electricity, roll over to the next month’s bill.
No, New Hampshire Electric Cooperative does not offer full 1 for 1 net metering. This means that when you export surplus power from your solar panels, you will be paid less by the utility than what you are charged to buy the equivalent amount of power from the grid.
The amount you are paid by the utility is known as a feed-in tariff. In the case of New Hampshire Electric Cooperative, this feed-in rate is $0.01 per kWh.
The rate NHEC pays for your excess power is about 25% of retail rates.
The biggest financial incentive for solar homeowners is the 30% federal solar tax credit. The tax credit equals 30% of the solar installation costs and directly reduces your federal income tax liability.
Some states and local governments offer additional solar incentives. These incentives include state tax credits, rebates, or performance-based incentives like Solar Renewable Energy Credits (SRECs). The best part is that these local incentives can be used in addition to the federal tax credit!
Here is every incentive you may be eligible for as a NHEC customer:
|Residential Clean Energy Tax Credit (Federal)
Local Option - Property Tax Exemption for Renewable Energy
Cities have the option to exempt the cost of a solar system from property taxes. Not statewide.
Utilities, except municipal, must offer net metering. Can offer full kWh credits on the bill or send customer check for avoided cost rate of excess kWh.
*Based on 9.54 kW system, average installation cost $28,273
If you input the details for a NHEC customer with a power bill of $170 per month into the best online solar panels calculator, it tells you that you need a 9.54 kW solar system that will produce 11,332 kWh per year and that this system will return the owner a $48,887 profit after repaying the cost of the system.
The solar savings possible for you as a NHEC customer will depend on the amount of electricity you use and the cost of the solar system you buy. Savings also vary based on the direction of your roof or any shading of your roof that affects output.
Here is a monthly and lifetime solar savings estimate for the same relatively typical NHEC customer with a $170 per month electric bill prior to solar and who installs a 9.54 kW solar system.
Showing data for:
Prices based on a 8.3kW system, after 30% federal tax credit
System Size (for 100% usage offset)
Annual Power Generation
Pay-back time (assuming Cash purchase)
Internal Rate of Return (IRR) on Investment
Total Upfront Incentives and Rebates
Net Cost of System after rebates and incentives
Total Cost of Utility Power Avoided over 25 years
While most homeowners decide to install solar panels because of financial savings over time, the environmental impacts of this choice are the primary motive for others. Here is a breakdown of the environmental benefits from a New Hampshire Electric Cooperative customer installing a 9.54 kW solar system on their property:A solar system generating 11,332 kWh per year will save you money AND make the world a nicer place
The cost of installing solar panels will vary with brands of solar panels and inverters you choose and also the installation company you choose to install them.
It is common to see really good systems, using quality brands of equipment, being sold for around $2.96 per watt or $18,424 for a standard 9.54 kW solar system after the customer claims the 30% federal solar tax credit.