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.
- Reduced carbon footprint: Utilizing solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
- Better energy independence: Solar systems with battery storage function through blackouts and emergencies, and you won't have to rely on the electrical grid for your safety and comfort.
What Solar Incentives Are Available to Nashua Homeowners?
New Hampshire homeowners who upgrade to solar could qualify for special financing, rebates, reimbursements and tax credits. Here are just a few of the local incentive programs.
Incentive Type: Rebate ProgramWebsite: eversource.com
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
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
$1,500, $1,700 or $1,900, depending on annual estimated system output
Incentive Type: Personal Tax CreditWebsite: ecowatch.com
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
Choosing a company is the first step toward a well-oiled and valuable solar system. Here are some crucial criteria to remember while searching for a solar company.
Licensing and Training
A master electrician is required to oversee solar PV installations in New Hampshire. However, solar thermal installers need not be licensed plumbers unless a locality requires it. Solar providers can also earn accreditations from standards organizations and trade groups. The most recognized ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Nashua
Your solar panels' style will affect how much electricity you can produce. Monocrystalline panels perform the best but cost the most. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total project price, but they can maximize your solar system's performance. Not all solar companies include these add-ons, so look for a provider that sells them if it's crucial for you.
Generally speaking, it costs about $21,100 for a five-kilowatt solar array in Nashua. This table displays more specific costs for different solar panel types and system components in your area.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Nashua
Choosing the best financing solution will impact your overall solar system cost and potential savings. Common payment options include power purchase agreements, loans, leases, and cash payments. We suggest paying with cash or using a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar incentives to minimize your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still benefiting from energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases allow you to pay a monthly fee to rent your panels, while a PPA lets you pay a fluctuating rate based on only the energy you use. We generally advise against these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be suitable in particular circumstances. We suggest working with a provider that offers multiple financing options. Ask each agent about what's available, and acquire more than one estimate for the best odds of staying within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in Nashua.
A 26% federal tax credit applies to new residential solar equipment purchased through 2032. Further incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
|Solar System Capacity
|Estimated Payback period
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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 panels increase my Nashua home price?
What can I do to assess my home's solar potential?
Is installing solar panels a fast job?
What is the average payback period for Nashua solar panels?
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make set monthly payments.
With both leases and PPAs, you do not own your panels and lose eligibility for most incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
How are traditional solar loans and PPAs different?
In contrast, solar loans can come from specialty lenders, the government, local banks and installer. You'll need to pass a credit check to qualify for most of them. While the upfront costs are greater, and you'll be responsible for taking care of the system, you'll also have full ownership rights and can apply for many more incentives.
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