Solar is gaining popularity in New Hampshire
Although New Hampshire ranks among the bottom ⅓ of states in solar installation and production, solar is growing in popularity. According to SEIA, as of Q4, 2021, roughly 28,000 New Hampshire households have some level of solar installation, and many businesses are now moving to clean, renewable solar energy.
New Hampshire is a surprisingly good state for solar
Although the state’s number of installations may not reflect it, New Hampshire receives a significant amount of sunlight, with an average of 198 days of sunshine annually. Although this number is far less than states like Texas, California, or Arizona, New Hampshire benefits from its relatively cool annual temperatures which provide better conditions for solar energy production.
The Federal Investment Tax Credit (ITC) allows qualifying systems installed in New Hampshire in 2022 (residential or commercial) to qualify for a 26 percent federal tax credit. The ITC drops to 22 percent in 2023 and will fall in 2024 to 10 percent for commercial projects while ending residential projects.
State and local incentives
New Hampshire offers a range of solar and renewable energy incentives including:
- Renewable Energy Generation Incentive Program which operates through the Public Utilities Commission (PUC), offers a rebate program for residential renewable energy systems with generating capacity of 10kw or under.
- Additional New Hampshire’s Renewable Energy Property Tax Exemption allows cities and towns to offer exemptions from local property taxes for renewable energy installations that meet specific criteria. The exemption was designed to create a tax-neutral policy that neither punishes an individual for investing in renewable energy by raising their property tax nor hurts a local municipality by decreasing their tax revenue.
New Hampshire has net metering
New Hampshire, like many states, has net metering laws in place. Net metering allows residential and commercial customers who generate their electricity from solar power to sell the electricity they aren’t using back to the grid.
To learn more about going to readily available renewable solar energy in New Hampshire, contact an All Energy Solar representative.