Benefits of Solar Energy
Solar energy comes with multiple benefits. Here are some highlights.
- Lower utility costs: Generating some or all of your own energy will cut power costs long-term. Plus, some states provide net metering programs that make it possible for you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Reduced carbon footprint: Using clean solar power reduces your dependence on conventional, less environmentally-friendly sources.
- Better energy independence: Adding a solar battery storage system lets you have reliable energy during grid outages and storms.
What Solar Incentives Are Available to Nashua Homeowners?
Governments and utility companies often reward homeowners for embracing solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
Incentive Type: Property Tax Incentive
Website: nh.govIncentive Amount:
Varies (local option)
Incentive Type: Rebate Program
Website: puc.nh.govIncentive Amount:
$0.20/watt
Incentive Type: Rebate Program
Website: eversource.comIncentive Amount:
Lighting: Online discounts & coupons at participating retailers
LED Light Fixture: $5
Heating/Cooling Equipment: Up to $400
Heat Pump Water Heaters: Up to $600
Clothes Dryers: up to $200
Clothes Washer: Up to $50
Dehumidifier: $25
ENERGY STAR Homes: $4,000
Natural Gas Heating Equipment: Up to $1,500
Natural Gas thermostats: Up to $100
Pool Pumps: Up to $500
Refrigerator and Freezer Recycling: $30
Refrigerators: Up to $75
Room Air Conditioner: $20
Room Air Purifiers: $40
Incentive Type: Rebate Program
Website: puc.nh.govIncentive Amount:
$1,500, $1,700 or $1,900, depending on annual estimated system output
Incentive Type: Rebate Program
Website: puc.nh.govIncentive Amount:
40%
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Nashua
The more comprehensive your company investigation is, the better your solar system will ultimately function. Make your choice based on the following vital factors.
Licensing and Training
A master electrician must be present to supervise solar PV installations in New Hampshire. However, solar thermal installers need not be licensed plumbers unless a locality requires it. Solar installers can also obtain certificates from trade groups and standards organizations. The most respected ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Nashua
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar provider includes these optional components, so look for a company that sells them if it's a priority for you.
Most Nashua homeowners choose solar systems designed for five kilowatts (kW) of electrical capacity. These systems cost about $21,100 to set up, considering both parts and installation. You can see more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,181 |
| Solar Polycrystalline | $922 |
| Thin-Film | $539 |
| Solar Battery | $756 |
| Solar Home EV Charger | $2,835 |
Financing Solar Energy in Nashua
Choosing the right financing option will influence your overall solar system cost and potential savings. Common payment options include power purchase agreements, loans, cash payments, and leases. Though it requires a large up-front payment, cash is the most cost-effective choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the next best option. As with a home or auto loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases let you use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, akin to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for companies that offer several payment plans to find the right fit for your budget.
The table below lists the average payback periods for different capacities of solar systems in Nashua.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments may have their own financing plans and rebates that could reduce your total cost even more.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.2 years |
| 2 kW | 4.4 years |
| 5 kW | 11.0 years |
| 10 kW | 21.9 years |
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Frequently Asked Questions About Solar in Nashua
How much money could I save by going solar in Nashua?
How popular is solar energy in Nashua?
Will solar energy systems improve my Nashua home worth?
What can I do to assess my home's solar potential?
How long does the solar panel installation process require?
What is the average payback period for Nashua solar panels?
How are a solar lease and PPA different?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
How are traditional solar loans and PPAs different?
In contrast, solar loans can come from the government, local banks, installer and specialty lenders. You'll need to pass a credit check to qualify for most of them. While the upfront costs are larger, and you'll be responsible for maintenance, you'll also have total ownership and can apply for many more financial rewards.
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