New Hampshire Solar Power in New Hampshire
Not sure if solar is right for you? Incentives are available to go solar in New Hampshire — it’s hard to find a better investment. Contact an All Energy Solar consultant to see what incentives are available in your area. Our team of dedicated professionals is waiting to assist you with every aspect of your solar energy project, from initial site visit and permitting to incentive paperwork and complete installation.
New Hampshire Solar Incentives
New Hampshire Solar Rebates
$0.20/watt | Capped at $1,000 or half of system cost, whichever comes first
Any homeowner in New Hampshire with a solar system size of 10 kilowatts (kW) or less will qualify for the state’s rebate program for solar. The program pays $0.20 per watt up to $1,000 or half the cost of the system, whichever comes first.
New Hampshire Solar Renewable Energy Credits (RECs)
New Hampshire’s Renewable Portfolio Standard requires each electricity provider to meet customer load by purchasing or acquiring certificates representing generation from renewable energy based on total megawatt-hours supplied. Under the RPS statute, electricity providers are required to generate or purchase renewable energy certificates from suppliers through the New England Power Pool Generation Information System (NEPOOL-GIS). Through these policies, New Hampshire residents who go solar are eligible to sell these certificates to be compensated for the green energy that their systems produce in addition to the money they’ll save on their utility bill.
Federal Solar Incentives
Federal Income Tax Credit
Available to any property owner in the United States.
Established by The Energy Policy Act of 2005, the federal tax credit for residential energy property applies to solar-electric systems and several other renewable energy technologies. The Consolidated Appropriations Act, signed in December 2015, extended the expiration date for PV technologies, and introduced a gradual step down in the credit value for these technologies.
Expenditures with respect to the equipment are treated as made when the installation is completed. If the installation is at a new home, the “placed in service” date is the date of occupancy by the homeowner. Expenditures include labor costs for on-site preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home.
The maximum allowable credit, equipment requirements and other details vary by placed in service date, as outlined below.
Solar-electric tax credit step down schedule
- 30% for all systems placed in service by 12/31/2019
- 26% for systems placed in service after 12/31/2019 and before 01/01/2021
- 22% for systems placed in service after 12/31/2020 and before 01/01/2022
- There is no maximum credit for systems placed in service after 2008.
- Systems must be placed in service on or after January 1, 2006, and on or before December 31, 2021.
- The home served by the system does not have to be the taxpayer’s principal residence.
If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year. The form that you will need to complete in order to file for the federal tax credit is Form 5695. It is to be filed in conjunction with your Federal Income Tax Return. This form can be found at www.irs.gov.
Additional Solar Incentives for Business Owners
Available to any business in the United States.
Under the federal Modified Accelerated Cost-Recovery System (MACRS), businesses may recover investments in PV through depreciation deductions. A solar PV system is classified as five-year property (26 USC § 168(e)(3)(B)(vi)) under the MACRS, which refers to 26 USC § 48(a)(3)(A) to define eligible property.
USDA Rural Energy for America Program (REAP) Grants
Available for rural customers, as defined by the USDA.
The Rural Energy for America Program (REAP) provides financial assistance to agricultural producers and rural small businesses in rural America to install solar PV systems. The maximum funding available is 25% of system cost, and each businesses total incentive will be determined based on a business level feasibility study.
Ready to talk about your solar energy system possibilities? Contact us to get a free solar quote.