Cost of solar panels in New Hampshire (2024)

How much is it to go solar in the Granite State?

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home in new hampshire with solar panels on the roof

Average solar panel installation costs range from $12,120 to $34,628 in New Hampshire. How much you pay depends on the size of your system, what incentives you’re eligible for, your home’s sunlight exposure and other factors.

Based on feedback from hundreds of solar customers in New Hampshire, the general consensus is that solar panel investments pay off over time. Assuming an upfront purchase, it takes about 7.5 years to break even (when your savings with solar panels make up for the cost).


Key insights

  • The average solar panel installation costs $3.65 per watt in New Hampshire. “Cost per watt” is similar to the price per square foot when you buy a house. It helps you compare the value of solar energy systems in different sizes.
  • The federal solar investment tax credit is usually the most significant financial incentive for homeowners buying solar panels. It is not a rebate or a refund but goes toward what you owe on federal income taxes.
  • In New Hampshire, you can lease a system or enter a power purchase agreement with lower upfront costs. However, you won’t be eligible for the federal tax credit if you do.

How much do solar panels cost in New Hampshire?

With professional installation, a typical 6-kilowatt residential solar panel system in New Hampshire costs $20,777. That price drops to $14,544 after the full federal solar investment tax credit (ITC).

The size of your solar panel system is a big factor in your overall solar costs. A typical New Hampshire household needs a system with a capacity of 8.97 kW to offset enough energy costs to make solar viable. Depending on your household energy usage, you might need a smaller or larger system.

Average solar panel installation cost by system size in New Hampshire

This doesn’t include the cost of a solar storage battery, which sometimes costs as much as the panels. Solar batteries are a must if you want real energy independence and essential if you go off-grid. Permitting, utility fees and maintenance also add to the cost of going solar.

Are solar panels worth it in New Hampshire?

For most, going solar is worth it in New Hampshire for the cost savings and environmental benefits. Solar panels lead to big long-term savings on electricity bills for many. Over 25 years, New Hampshire homeowners with solar panels avoid $69,087 in utility costs on average.

Edward in Newmarket, New Hampshire, put it this way: “We continue to pour carbon into the atmosphere, and we're all gonna pay that price, so we felt going solar was the right thing to do.” Since going solar, Edward only pays about $13 each month, “and that amount is the utility charge to be connected to the grid. So we're not paying anything for electricity.” Similarly, since installing solar, Robert in Litchfield, New Hampshire, only gets a $12.95 energy bill from Eversource each month.

Homeowners with solar panels typically save $20,000 to $90,000 over 25 years.

We’ve also heard that seasonal dips in energy production can be an issue for others. Robert in Concord, New Hampshire, said his system works great in the summer, “but with winter coming on, I didn't realize that it would be that significantly dropped as far as how many kilowatts I get per day.” However, he’s still happy with the system overall.

We suggest using the National Renewable Energy Laboratory's PVWatts Calculator to estimate how much electricity a solar panel can produce over a year on your house — just type in your address. Project Sunroof is a free solar savings estimator powered by Google Earth imagery.

If your house is a good candidate for solar, it’s worth it if you like the idea of lower monthly utility bills and more energy independence. In New Hampshire, solar panels usually pay for themselves within 7.5 years.

» STILL NOT SURE? Solar energy pros and cons

Solar panel installation cost factors in New Hampshire

The equipment — solar panels, inverters, mounting hardware and other electrical accessories — is typically the largest portion of your overall total costs (approximately 25% to 50%). Labor, which includes planning, preparing and connecting your system to the grid, accounts for 10% to 30%. Local permits and fees are a small part of your overall costs.

Solar panels

Most of your solar equipment costs come down to how much you pay for solar panels. Monocrystalline panels are considered the best bang for your buck. Cheaper solar panels are typically polycrystalline. The difference comes down to efficiency and materials: Monocrystalline panels are made from pure, single silicon crystals; various silicon fragments melted together are used to make polycrystalline panels.

Solar panel efficiency is a measure of how well a panel makes electricity. The more efficient the solar panels you buy are, the fewer panels you need. While more efficient panels cost a little more, you save by buying fewer panels.

Additional solar equipment costs

Systems also contain mounting equipment, wiring and other devices, such as inverters, batteries or a monitoring system.

  • Solar batteries: A battery stores energy for later use. It’s a must if you want real energy independence, and they sometimes cost as much as the panels. Prices often depend on the battery’s storage capacity, lifespan, brand and other factors. Expect to pay between $7,000 and $18,000, though some cost $30,000 or more.
  • Solar inverter: Inverters convert the electricity generated by your solar panels from direct current (DC) to alternating current (AC). Inverter costs usually range from $1,000 to $3,000.
  • Monitoring system: Some companies include a solar monitoring system to track how much energy your system produces and if there are any problems. If not, you can get one for $80 to $400.

Size of your system

The cost difference between a 6-kilowatt system and a 7-kilowatt system is thousands of dollars. To estimate what size system you need, first look up how many kilowatt-hours (kWh) you used last year on your electricity bill. Divide that number by 1,200. This will be roughly the system size you need. For example, if your home used 30,000 kWh last year, you would need a 25-kW system.

» WATT’S THE DIFFERENCE? kW vs. kWh

Condition of your roof

Quality solar panels should last 25 to 30 years, so you need your roof to last just as long. Otherwise, you’ll have to pay to remove the panels, fix your roof and reinstall them again. This is a frustrating and expensive process you should avoid if you can. If you’ve been thinking about replacing your roof, it’s a good idea to do that before getting solar panels.

ConsumerAffairs often hears from disgruntled solar customers who felt blindsided by expensive roof repairs needed after their solar panel installation was complete. If you want to ensure a seamless and cost-effective solar journey, your roof must match the system's longevity. Get your roof inspected, fixed or replaced before you get a solar energy system.

How to save money on solar panels in New Hampshire

There’s no way around it — solar panel installations are expensive. Here are some tips to maximize your savings on solar panels in New Hampshire:

  • Compare quotes: Get quotes from at least three or four different solar installers in New Hampshire. This lets you compare different proposed equipment, pricing, financing terms and estimated energy production to find the best overall value. Don't just go with the cheapest option without vetting quality and services.
  • Lower your electrical load: Before going solar, it’s smart to upgrade any old appliances. For example, replacing an old refrigerator with a more eco-friendly one reduces your electric load, which also helps lower your utility bill. If you use less electricity, you need fewer solar panels, making the whole system cheaper.
  • Explore payment options: Affordable financing makes the upfront costs of solar more manageable. For instance, leases and power purchase agreements (PPAs) can let you start saving from day one with little or no money down.
  • Use incentives: In addition to the federal solar tax credit, New Hampshire residents may take advantage of additional local incentives and programs.

» TIPS: Get the best solar quotes

Solar incentives, tax credits and rebates in New Hampshire

The federal solar investment tax credit (ITC) is the best financial incentive for going solar in New Hampshire. The ITC credits 30% of the system’s total cost — including equipment, labor and permits — toward what you owe on federal income taxes.

Don’t get confused: The ITC is not a rebate or a refund. It is a credit that goes toward what you owe on federal income taxes the year your system becomes operational. Any unused portion of the credit rolls over into future tax years.

The ITC drops to 26% in 2033 and 22% in 2034.

For example, if you spend $10,000 installing a solar panel system, the ITC is worth $3,000. If you owe $15,000 in taxes, the credit reduces your debt to $12,000. The ITC only offsets your tax liability; you can't take advantage of it if you don’t owe taxes in the first place.

New Hampshire also has an optional program where towns and cities can choose to provide property tax exemptions for homeowners who install solar, wind, battery storage or wood-fired central heating systems.

» EXPLORE: New Hampshire solar incentives

How can I pay for solar panels in New Hampshire?

You have options when it comes to paying for your solar system. You can pay cash upfront, take out a solar loan, lease your system or get a power purchase agreement (PPA).

  • Loan: A solar loan works like any other type of home improvement loan — there’s an application and approval process, and you pay it back over time (with interest) each month. In an ideal financing scenario, your system generates enough extra power to pay off the loan. Solar loan terms typically last eight to 20 years.
  • Lease: Leasing solar panels is a great way to set up a system without the high upfront costs. A potential downside is that you are not eligible for the same tax incentives.
  • Power purchase agreement: A solar power purchase agreement (PPA) is similar to leasing. A solar developer buys, installs and maintains solar panels on your property. You buy the power generated by the system on a per kilowatt-hour (kWh) basis. It’s a fixed price, and the cents/kWh is usually cheaper than the utility’s rate for the same amount of electricity.
  • Home equity: Using a home equity line of credit or loan to finance a solar installation can be a financially beneficial option — home equity interest rates are relatively low, and homeowners can still take advantage of the federal solar investment tax credit.

» SOLAR PANELS: Lease vs. buy

Compare solar installation companies in New Hampshire

We compared ratings and reviews, equipment options, warranties, availability and other factors to pick the top solar companies in New Hampshire.

Do you own or rent?

FAQ

How are solar costs trending in New Hampshire?

The cost to go solar in New Hampshire has fallen 47% over the last 10 years, according to the Solar Energy Industries Association.

Can I get free solar panels in New Hampshire?

We’re not aware of a totally free solar option in New Hampshire. You can also lease or enter a PPA with little to no upfront costs, though neither is totally free. Solar leases usually come with a flat monthly fee, and PPAs make you pay per unit of electricity. In general, beware of deals that sound too good to be true. Solar scams that promise free solar panels often, unfortunately, end up costing people quite a bit of money.

Is it cheaper if I install solar panels myself?

It’s potentially cheaper to install your solar energy system yourself, but it’s difficult and dangerous if you don’t know what you’re doing, especially for a large residential project.

» DIY SOLAR PANELS: Pros and cons

How does net metering work in New Hampshire?

In New Hampshire, several electricity providers, such as New Hampshire Electric Cooperative, Eversource, Liberty and Unitil, offer net metering programs. Compensation comes in the form of credits on your upcoming monthly electricity bill. Any remaining credits you have at year's end can be redeemed for cash.

Will solar panels increase the value of my home?

Installing solar panels can significantly increase a home's value. According to a Zillow study, homes with solar panels sell for 4.1% more on average. The exact increase in value varies by location, with homes in active solar markets seeing higher boosts.

What’s the difference between a solar broker and a solar installer?

A solar broker is a middleman or intermediary who helps connect homeowners with solar installation companies. A solar installer specializes in designing, procuring and installing solar panels and related components.

Ultimately, deciding between a solar broker and a solar installer depends on how much you want to be involved in the process. A broker can be helpful if you value convenience. If you want more control and potentially lower costs, it’s best to work directly with a solar installer.

How much can I save with solar panels?

On average, New Hampshire homeowners with solar panels avoid $69,087 in total utility costs over 25 years.

» EXPLORE: Where solar savings go the furthest

Bottom line

Residential solar panel system costs typically fall between $10,000 and $30,000 or higher, depending on factors like the system's size, local labor rates and available incentives. New Hampshire homeowners with solar panels can typically save more than that in total avoided energy costs over the lifetime of a system.

The ConsumerAffairs Research Team has conducted extensive research to compare the costs of going solar in New Hampshire and other states.

Solar costs vs. savings: New Hampshire and nearby states

*For 100% usage offset; **Over 25 years

Article sources ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
  1. DSIRE, "New Hampshire Solar Programs." Accessed March 29, 2024.
  2. EnergySage, “The cost of solar panels in New Hampshire.” Accessed March 29, 2024.
  3. Solar Energy Industries Association, "New Hampshire Solar." Accessed March 29, 2024.
  4. SolarReviews, “How much do solar panels cost in New Hampshire?” Accessed March 29, 2024.
  5. Newport Dispatch, “Francestown police warn residents of solar panel scam.” Accessed April 26, 2024.
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