Solar Panels Cost 5.5k-16k in Nashua, NH | September, 2024

Solar Panels Cost $5.5k-$16k in Nashua, NH | September, 2024

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How much do solar panels cost in Nashua, NH in 2024?

To get solar installed in September, 2024 in Nashua, NH averages out to $3.98/W.

You should expect the price to be $3,980, on average, for every 1 kW (or 1000 watts) of solar energy your solar system will need to produce. In Nashua, you can expect to spend about $13,930 for a 5 kW solar panel install once the 30% federal income tax credit is factored in. However, please keep in mind that a higher capacity system might be needed to satisfy your energy needs.

On the left-hand side, pick your county to access information on the typical roof size and the average maximum capacity for residential solar on homes within your area. You can review the price, payback period, and 20-year average savings for a 5 kW system installed in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Nashua: $13,930US Average: $12,598
Average Payback Period The number of years until you break even on the solar investment.
Nashua: 8 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Nashua: $16,206US Average: $15,732

Solar Potential in Nashua

Estimated system size and solar electricity production per median viable roof in
Nashua.

Roof size 554sq. ft.
Capacity 7.75kW DC
Electricity 8.6kkWh AC per yr.

Electricity Costs in Nashua, NH & What that Means for Your Solar Panel Pricing

With an average consumption of 600 kWh per month, Nashua households pay about $150.44 for electricity. Small living spaces, such as condos and cottages, are also included in the data cited in the previous sentence.

Nashua, NH's electricity rate is on average 25.06¢ per kWh in September 2024.

To meet all of the energy needs of an average consumer in Nashua, a solar system of 6 kW or larger is required. At this time, a 6 kW solar panel system will cost you approximately $23,880, but the 30% federal income tax credit reduces the total to $16,716.

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Average solar panel costs by system size in Nashua

On the left side below, there is the pricing details for various sizes of the solar panel systems set up in Nashua. Naturally, with a larger solar system, you'll see a greater initial expense, but the rewards are higher electricity savings and more substantial income tax credits.

See a cost benefit analysis in the solar panel cost calculator below and to the right, for an average electric bill of $150.44 in Nashua. To get tailored results, simply adjust the $150.44to match your average electricity bill amount.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $668 a year
Est. Price
$5,572
Savings from a 2kWthis system
  • Est. yearly production 2,673 kWh
  • Est. monthly savings $56
  • Full payback in 3 years
Environmental Impacts
  • Reduces CO2 emissions by 0.47 tons a year
  • Equivalent to planting 21 trees a year
  • Equivalent to driving 1,158 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $1,002 a year
Est. Price
$8,358
Savings from a 3kWthis system
  • Est. yearly production 4,009 kWh
  • Est. monthly savings $84
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 0.7 tons a year
  • Equivalent to planting 32 trees a year
  • Equivalent to driving 1,738 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,336 a year
Est. Price
$11,144
Savings from a 4kWthis system
  • Est. yearly production 5,346 kWh
  • Est. monthly savings $111
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 0.94 tons a year
  • Equivalent to planting 43 trees a year
  • Equivalent to driving 2,317 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,671 a year
Est. Price
$13,930
Savings from a 5kWthis system
  • Est. yearly production 6,682 kWh
  • Est. monthly savings $139
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 1.17 tons a year
  • Equivalent to planting 54 trees a year
  • Equivalent to driving 2,896 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $2,005 a year
Est. Price
$16,716
Savings from a 6kWthis system
  • Est. yearly production 8,019 kWh
  • Est. monthly savings $150
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 1.26 tons a year
  • Equivalent to planting 58 trees a year
  • Equivalent to driving 3,121 mi less a year

Nashua Solar Panel Installation Incentives & Rebates | 2024

Eligible rural small businesses and farms might have their photovoltaic or wind turbine installation costs covered by the REAP Grant, ranging from 80% to 100%. If you believe you might qualify, we suggest trying our REAP Grant eligibility tool to verify.

For those considering residential solar options, a 30% federal income tax credit is broadly available, increasing the appeal and practicality of solar energy in many areas across the nation. Additionally, there are numerous state and local incentives to further promote the adoption of solar energy.

A total of 9 solar rebates and incentives are available in New Hampshire through various utility companies and government departments.

Residential Small Renewable Energy Rebate Program

Value:Up to $1

The New Hampshire Public Utilities Commission manages a centralized incentive program for homeowners installing new renewable energy systems. Rebates are funded through penalty fees paid by utilities as part of the state's renewable portfolio standard law. Qualifying projects include solar PV and wind microturbines. Solar systems should be UL certified, while wind systems are subject to minimum speed, setback, and height requirements. The total rebate amount will vary depending on a system's capacity. Currently, the incentive rate is 20 cents per watt up to a maximum of $1,000 or 30% of the original purchase price. Additional information is available from the PUC website.

Commercial & Industrial Solar Rebate Program

Value:Up to $10,000

The New Hampshire Public Utilities Commission manages a centralized incentive program for homeowners installing new solar water heaters and HVAC systems. Rebates are funded through penalty fees paid by utilities as part of renewable portfolio standard laws. Qualifying projects should meet all applicable local, state, and federal standards, with the project owner requesting funding and obtaining an energy efficiency audit prior to installation. Homeowners served by a local public utility do not qualify as they are not subject to the renewable portfolio standard. Additional information is available through the PUC website.

Residential Solar Water Heating Rebates

Value:Up to $1,900

Any New Hampshire homeowner may qualify for a rebate on new solar water heaters regardless of which utility they use. Incentives are offered through the state Public Utilities Commission and are funded through penalty fees assessed to utilities as part of the state's renewable portfolio standard. Rebate amounts are fixed and depend on the BTU capacity of the heater, ranging from $1,500 to $1,900. Homeowners must apply and earn preapproval before purchasing and installing their system through a participating contractor. Additional information is available through the PUC website.

Residential Solar Water Heating Rebates

Value:Up to $1,500

Any New Hampshire homeowner may qualify for a rebate on new solar water heaters regardless of which utility they use. Incentives are offered through the state Public Utilities Commission and are funded through penalty fees assessed to utilities as part of the state's renewable portfolio standard. Rebate amounts are fixed and depend on the BTU capacity of the heater, ranging from $1,500 to $1,900. Homeowners must apply and earn preapproval before purchasing and installing their system through a participating contractor. Additional information is available through the PUC website.

Local Option - Energy Efficiency & Clean Energy Districts

Value:Varies

Local and county governments in New Hampshire may create property-assessed clean energy (PACE) financing programs to support property owners making renewable energy investments or energy efficiency improvements. Effectively, PACE funding comes from the government, with applications and screening handled through a private lender. Repayment will take the form of a property tax lien senior to mortgages. Should the owner sell or transfer their property, the new owner will be responsible for the loan. Any commercial, industrial, or large multi-family residential property may qualify for PACE loans. Single-family homes or multi-family properties below 5 units do not qualify due to regulatory concerns from the FHFA. Potential applicants should check with their local government to determine financing options and requirements for participation.

Renewable Portfolio Standard

Value:Varies

In New Hampshire, all private utilities and electrical cooperatives are required to comply with a renewable portfolio standard dictating the state's investment in clean energy. Current objectives require at least 25.2% of retail electricity in the state to be sourced renewably by 2025. Eligible technologies include solar, wind, biomass, hydroelectric, and some landfill gas systems. Compliance with the standard is measured using a Renewable Energy Credit (REC) system pegging a fixed amount of electricity to a variable dollar value. Each renewable energy device generates RECs, though utilities are expected to purchase much of their share of RECs from private customers. Should a utility fail to meet its quota of RECs, it will be assessed a penalty charge for each kilowatt it is deficient. Additional information is available from the New Hampshire Public Utilities Commission website.

Local Option - Property Tax Exemption for Renewable Energy and Electrical Energy Storage

Value:Varies

In New Hampshire, local governments may elect to create property tax exemptions on solar/wind energy systems, electrical storage devices, and wood-burning thermal systems (not fireplaces). Exemptions for each system should be enacted separately rather than all together. Currently, 135 localities have these exemptions within their tax codes. Interested property owners should consult with their local assessor for additional information on the specific statutes that may apply to them.

Enterprise Energy Fund Loans

Value:Varies

The Enterprise Energy Fund is a revolving loan program sponsored by the New Hampshire Community Development Finance Authority (CDFA) and Community Loan Fund (CLF). Commercial property owners can borrow EEF loans to make a variety of energy efficiency upgrades or install new renewable energy systems. Repaid funds immediately "revolve" to another borrower, allowing for perpetual state investment and continued support through interest. Loans from $50,000 to $500,000 may be repaid over 10 years, with variable interest depending on the length of the repayment period and the tax status of the borrower. Nonprofit agencies may receive lower interest rates and more tailored repayment plans. Additional information is available from the CDFA website.

Commercial & Industrial Renewable Energy Grants

Value:Varies

In New Hampshire, large commercial, industrial, nonprofit, or public-sector properties may be eligible for renewable energy grants through the state's Public Utilities Commission. Grants range from $150,000 to $1 million in size and can support new solar, wind, biomass, hydroelectric, or geothermal generation and thermal systems. Finished installations should be interconnected to the electrical grid under a net metering agreement. Additional information is available from the PUC website.

Are solar panels worth it in New Hampshire?

For those looking to stay in their home past the solar system's payback period, solar panels are a good investment in Nashua. Installing a 5 kW solar system in Nashua, NH will, on average, save you $22,175.6 over 20 years, and you can expect to break even in about 8 years.

The cost of not having solar panels in Nashua, NH

Failing to install solar panels or an alternative backup energy means missing the savings mentioned earlier and being entirely reliant on your electric utility for electricity. The news has provided several examples highlighting that full reliance on your utility isn't always the best idea.

On average, customers in Nashua have encountered 0.7 utility outages per year in recent times. Outages typically last for an average of 73.57 minutes. Major occurrences like overloaded power grids, wildfires or planned maintenance can lead to a significant rise in these time frames.

A solar panel system with (or without) a backup battery could ease the strain of future outages you experience.

Power Outages

Currently, 0 customers are being tracked in Hillsborough County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Nashua, NH?

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt lowers as the system size increases. Setting up a solar panel system that can fully offset the electric bill is advantageous to individuals because of the reduced long-term costs.

Make & Model - Solar panels, similar to many other products, are available in a variety of makes and models. The contractor’s preference for brand makes it crucial to choose a recommended company. Consumers who choose better equipment usually enjoy a better long-term experience.

Solar Panel Type - It's no surprise that monocrystalline panels are now the standard in the industry. These panels have a higher cost but yield more energy. Most installers in the industry utilize panels made from this material.

Your Property - Trees, uneven landscapes, or other barriers can increase the difficulty of the installation. Nowadays, solar installers typically leverage satellite images to evaluate your home and incorporate these considerations into the preliminary cost estimate.

Labor Rates - Companies pay different wages to their employees, and these expenses are inevitably borne by the consumers. It is commonly observed that companies with higher wages garner superior reviews for their services and customer service.

Permitting & Interconnection - The cost of installation will be affected by different local permitting and utility interconnection fees. Quality local installers will integrate these numbers into your first quotes to prevent any surprises.

See what solar panels cost in other NH cities

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Who are the best solar installers in Nashua?

Freedom Forever

Temecula, CA(800) 685-1850

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Intelligent Solar Services

(978) 612-6075

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Reparation of batteries.
  • Consulting on all things solar related.

Summit Energy Group

Weymouth Town, MA(888) 578-6648

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Norwich Technologies

White River Junction CDP, VT(802) 281-3213

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

Same Sun of Vermont

Rutland, VT(802) 775-7900

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Sunrun

San Francisco, CA(833) 394-3384

Services

  • Installation of solar arrays.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.

Sunnyside Solar

(802) 280-7319

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Venture Solar

(888) 417-2086

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.

Norwich Solar Technologies

White River Junction CDP, VT(802) 281-3213

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Catamount Solar

Randolph CDP, VT(802) 728-3600

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Nashua, NH Solar Panel Cost FAQs

  • In Nashua, NH, the mean cost per watt for solar panels as recorded in September, 2024 is $3.98/W. After the federal tax credit, the estimated cost for a 5 kW solar panel system in Nashua, NH is roughly $13,930.

  • As of now, there are 9 rebates and incentives offered by various utilities and government entities in New Hampshire. Furthermore, the majority of people qualify for the 30% federal tax credit.

  • Paying in cash yields the highest savings, but there are multiple financing options available today for solar panels that are also cost-effective. Initial quotes from installers will frequently detail information about available financing options.

  • Yes, homeowners in Nashua, NH generally see a payback time of 8 years for 5 kW solar panel systems, with electricity savings averaging $22,175.6 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-09-01