Solar panel cost in New Hampshire

The average cost for an installed residential solar system in New Hampshire is currently $12,556 after claiming the 26% federal solar tax credit. This is $2.83 per watt.

Showing data for:

Utility provider: Eversource Energy New Hampshire
Utility bill: $ 137

Prices based on a 6.0kW system, after 26% federal tax credit

Solar prices near you

Cost range of local prices

$11,159-$13,639

Net profit (savings less system cost)

$35,517-$43,409

Payback period

6.1-7.4 years

Recommended size for the selected utility bill

6.0kW

Chart 1: Distribution curve of NH residential solar cost 2020
$12K
SolarReviews average

Note: Prices after 26% Federal Solar Tax Credit

NH solar panel cost calculator

Cash flow graph based on cash purchase of a 6.0kW system

New Hampshire solar power overview

New Hampshire is a state that got solar right pretty early. The General Court passed a strong Renewables Portfolio Standard back in 2007, and with it came a good statewide rebate program to lower the up-front price of solar. It's now almost a decade later, and the state still has decent rebates and net metering, which are the major reasons solar is a great investment.

Are solar panels worth it in New Hampshire

Solar panels have fallen in price by more than 80% in the last ten years. In 2020 they also remain subsidized by the 26% federal tax credit and the net metering law, making them an excellent investment. They offer a return well above the long term average return from both the share market and also property investment.

Another way to look at this question is the levelized amount you will pay for each kWh of power you will use over the next 25 years with and without solar panels. As you can see below the savings are significant.

Levelized cost of solar energy
?
Levelized cost per kWh is the cost of the solar system divided by the total number of kWh produced by a solar system over it’s lifetime

5¢ /kWh

If you don't get solar

42¢ /kWh

(forecast avg New Hampshire electric rates over the next 25 years)

New Hampshire solar incentives & tax credits

Federal solar tax credit

The most significant incentive to install solar panels for homes and businesses is the federal solar tax credit. At the end of 2020, the amount of the credit will decrease from 26% to 22% of the cost of the solar installation. Because home and business owners want to get the largest incentive amount possible, solar panel installation companies will likely be flooded with new projects before year’s end. In order to maximize your savings potential, the best time to go solar in New Hampshire is now.

Net metering

New Hampshire law requires utilities to offer their customers net metering. Under this law, net metering can be offered in one of two ways:

  • A utility can provide customers a credit equal to 1 kilowatt-hour (kWh) for each excess kWh sent to the grid; or
  • A utility can pay the customer for excess energy sent to the grid at the avoided cost rate, which is less than the retail rate.

 

If you opt for getting paid out at the avoided cost rate, you will receive a check for your excess energy. However, while it would be nice to receive a check, you will actually save more if you choose the one-bill kWh credits because kWh credits are equal to the full retail value of electricity.

Solar Renewable Energy Credits (SRECs)

New Hampshire has a renewable portfolio standard that requires utilities to derive 19.7% of their energy from renewable sources, and 0.60% of that must come from solar energy systems. 

In order to meet these goals, utilities must obtain SRECs, which represent the environmental benefits of producing 1 megawatt-hour of electricity from solar. Because of the solar energy target, New Hampshire has created a market for SRECs, in which one SREC can be sold for a maximum price of $57.15.

Table 2: Available incentive programs
Eligibility: Federal incentive
Type: Personal Tax Credit
Eligibility: State incentive
Type: Property Tax Incentive

Showing 1 - 2 of 4

Top 10 solar panel brands installed in New Hampshire in 2020

Average cost of solar panel installation in New Hampshire by system size

System size*
Cash purchase

(After tax credit)

Financed purchase

(After tax credit)

4kW $12,356 $13,221
5kW $14,815 $15,852
6kW $16,968 $18,156
7kW $19,607 $20,979
8kW $22,880 $24,482
9kW $24,642 $26,367
10kW $27,110 $29,008

Best solar companies in the main cities of New Hampshire

Different types of solar companies

Solar company reviews

Home solar basics

Is it better to lease or buy solar panels in New Hampshire

You will save most money by buying your solar system rather than leasing it. Read more about the pros and cons of leasing vs buying solar.

How long do solar panels last?

Minimum of 25 years but generally 30 or more

How do solar panels work on a home?

Solar panels power your house when they can but your home uses the utility company for power at other times. In 2020 "solar systems with battery storage" are becoming more popular. These are known as hybrid systems.

How do solar panels work?

Grid-tied solar system

Solar panels are mounted on your roof and wired together in groups called solar arrays. The power they generate flows into a solar inverter where the direct current (DC) electricity is converted into alternating current (AC) electricity that can be used by your home or exported to the electric grid.

Off-grid solar system

Off-grid solar power involves meeting all your energy needs from the power of the sun. There’s no utility to fall back on. This means the solar installation needs to power the home not just during the day, when the sun is shining, but after dark as well.

Read more about types of home solar systems.

Do solar panels require regular maintenance?

No, but cleaning them can improve power generation if they are dirty.

Will residential solar power system cost fall in New Hampshire in 2020?

Given this environment, and the effect of import tariffs placed on solar panels by the Trump administration during 2018, it is hard to see that solar power system prices in New Hampshire will fall during 2020.

Can you buy DIY Solar Panel Kits and install them yourself in New Hampshire?

Yes you can! In some cases, you can save $3,000 or more when you install solar yourself, even after receiving the federal tax credit. Despite the potential for savings, data from Lawrence Berkeley Labs shows that only about 3% of homeowners choose DIY solar. 

Reasons for this include:

  • The permitting and inspection process for the utility, the state, and municipalities can be quite complex.
  • The installation work is both dangerous and difficult, with electrical work having to be performed at heights.
  • Often times, solar electricity customers will be charged a premium for DIY installations, which can limit savings.
  • In some states, a solar system needs to be installed by a qualified solar contractor in order to take advantage of incentives. In New Hampshire, a contractor must hold a master electrician’s license to be considered qualified. Utilities and incentive programs may have additional requirements.

 

SolarReviews does not recommend DIY solar installations unless you have suitable skills. However, for those who do, SolarReviews published a comparison table displaying solar panel kit prices from the top 10 leading solar kit websites in the US.

Buy DIY solar panel kits online

Prices don’t include installation, permits or inspections

How much electricity do solar panel systems generate in New Hampshire?

Depending on the location, solar panels will generate different amounts of electricity.

A solar system that is installed on a south-facing 33-degree pitch roof New Hampshire will generate 1,150kWh of peak DC (direct current) capacity per year per 1kW in New Hampshire.

Enter your details into the solar panel calculator to see how your location, roof tilt, and roof direction impacts solar panel production.

What are the pros and cons of installing solar panels in New Hampshire?

The advantage of installing solar panels in New Hampshire is that there are both state-based incentives and the federal tax credit. In addition, New Hampshire has expensive power. This means that the overall return on investment for an installation of residential solar panels here is one of the best in the nation.

One disadvantage of installing solar panels for your home in New Hampshire is that there is less overall sunshine per year, so a solar system here will produce less electricity than a system in sunnier states, like Arizona, would. However, the available incentives more than make up for what the state lacks in sunshine, making installing solar panels in New Hampshire a great investment for homeowners… for now.

Several times over the last two years, state lawmakers passed bills to expand New Hampshire’s net metering rules. However, governor Chris Sununu has vetoed all of them. Things are still good for people who want to go solar in New Hampshire, but will soon be less rosy without action from the governor. For 2020, strong with its rebate program, and decent low income solar programs, New Hampshire holds steady as a good state for solar.

Enter your details to calculate the cost and savings you are likely to get from installing solar panels for your home.

What you can learn from our state solar panel calculator

This solar calculator requires you to input your address, utility company, your average monthly power spend - it tells you:

If you want to see all of the above but also see live pricing, the three best solar deals available in your city and get binding quotes from each of these solar companies then use this New Hampshire solar panels calculator. This calculator requires you to also input your name and contact details because most of our 200+ installer partners will only authorize the sharing of their live solar pricing where we have validated that you are a real homeowner with a home in their service area. We respect the privacy of your data and only share your contact details with the solar companies you ask us to get binding quotes from.

Note: Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.

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