Going solar is a costly investment, even though solar panel systems eventually pay for themselves. It takes quite a bit of time to see that return on your investment.
"In New Hampshire, the payback period is about seven years for a solar array," Sam Evans-Brown said in a phone call. Evans-Brown is the executive director at Clean Energy New Hampshire, a renewable energy advocacy group. "That's not short, but these are investments that pay for themselves in time."
Even with the help of incentives and rebates, it might not be feasible to pay upfront for a purchase that'll run you tens of thousands of dollars. Whether you choose to shell out cash, take out a or tap into your home's equity, it's worth researching your options.
Cash: If it fits your budget, you can pay cash upfront to cover the cost of your solar panels and installation. If you aren't ready to buy just yet, you can take advantage of rising interest rates by saving for your future solar system in a .
Solar loan: Solar loans are available from a variety of sources. Some solar providers partner with a credit union to offer them. While these loans are easy to apply for, they may have higher rates or fees than options from a bank or credit union.
Home equity loan or line of credit (HELOC): Another option is to tap into your home's existing equity with a or . Often used for home improvements, home equity loans and HELOCs allow you to finance such improvements without disturbing the rate on your primary mortgage. However, defaulting on a home equity loan or HELOC could lead to losing your house.
Lease or power purchase agreement: You can enter into a lease or power purchase agreement with a solar provider. In these cases, the solar provider owns the panels and you pay for the equipment (via lease) or the power your system generates (via PPA).
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Installation factors to consider
Solar panels have many benefits. However, they might not be the best fit for your home. Here's what to consider.
Your roof's condition and pitch: Before installing solar panels on your roof, make sure it's in good condition. A reputable company will inspect your roof's condition and pitch prior to installation. Keep in mind, the as well as the cost of installation. The steeper your roof, the more likely you'll see some upcharges. According to the Department of Energy, your solar array will work most efficiently at an angle of 15 and 40 degrees.
Homeowners Associations (HOA) and neighborhood rules: If you live in a community with a homeowner's association, it's always a good idea to check for any rules or covenants regarding solar panels, as some HOAs require prior permission to installation. Solar access laws in New Hampshire allow neighbors to negotiate solar easements in order to receive optimal sun exposure for their arrays. New Hampshire HOAs are allowed to bar or restrict solar panel installations.
Insurance coverage: It's a good idea to include your solar panels in your . Check with your insurance provider to see if they cover rooftop solar panels.
Geographic location: While New Hampshire is known for its snowy winters, solar panels can be even more effective in cold temperatures. Your solar panels will convert sunlight photons into electricity as long as sunlight reaches the surface of the panels. New Hampshire averages 198 days of sun per year -- slightly below the national average of 205 days of sun per year.
Cost: Choosing to go solar is a big financial decision. Consider how long you plan to live in your house before committing to a solar loan, lease or power purchase agreement. Consider financing options to ensure you're making the financial move that fits your budget and priorities.
The companies we listed above as "the best" are curated from&nbsp;CNET's best solar companies&nbsp;list. Companies making the best list are scored on the equipment, warranties and customer service they offer. Then, we make sure these recommendations are available in your state. You can read a full breakdown of&nbsp;how we review solar companies here.
Companies listed under the local installers were chosen in a less rigorous way. We chose them because they offered something unique or notable to customers in the state, they seemed well-regarded by internet reviewers or because they were one of the few installers we could find information on in the state.
Whether we've completed a full review on a company or not, it's always a good idea to get multiple quotes from different installers before choosing a company.
" hed="Our Methodology" imagegroup="{}" merchantoffers="[]" usepricing="true" data-key="cnetlisticle__8b5ddbef-50e6-4823-876c-07b8607ffe84" position="NaN" api="{"_id":{"$oid":"65e41c0a37bd9527a1895541"},"newParentVersionId":"092b6c4a-020b-410b-a69b-f391465a5bfe","uuid":"8b5ddbef-50e6-4823-876c-07b8607ffe84","description":"<p>The companies we listed above as \"the best\" are curated from&nbsp;<a href=\"https://www.cnet.com/home/energy-and-utilities/best-solar-companies/#link=%7B%22linkText%22:%22CNET's%20best%20list%20for%20solar%20companies%22,%22target%22:%22%22,%22href%22:%22https://www.cnet.com/home/energy-and-utilities/best-solar-companies/%22,%22role%22:%22standard%22,%22absolute%22:%22%22%7D\">CNET's best solar companies</a>&nbsp;list. Companies making the best list are scored on the equipment, warranties and customer service they offer. Then, we make sure these recommendations are available in your state. You can read a full breakdown of&nbsp;<a href=\"https://www.cnet.com/home/energy-and-utilities/how-we-review-solar-companies/#link=%7B%22linkText%22:%22how%20we%20review%20solar%20companies%22,%22target%22:%22%22,%22href%22:%22https://www.cnet.com/home/energy-and-utilities/how-we-review-solar-companies/%22,%22role%22:%22standard%22,%22absolute%22:%22%22%7D\">how we review solar companies here</a>.</p><p>Companies listed under the local installers were chosen in a less rigorous way. We chose them because they offered something unique or notable to customers in the state, they seemed well-regarded by internet reviewers or because they were one of the few installers we could find information on in the state.</p><p>Whether we've completed a full review on a company or not, it's always a good idea to get multiple quotes from different installers before choosing a company.</p>","dislike":"","hed":"Our Methodology","imageCaptionOverride":"","imageCreditOverride":"","imageGroup":{},"isLive":true,"like":"","merchantOffers":[],"metadata":{"parentId":"f7e686f9-6249-40a6-823f-bb72cac317b3","parentContentType":"content_article","slug":"new-hampshire-solar-panels","dateUpdated":{"date":"2024-03-04 22:50:59.495965","timezone_type":3,"timezone":"UTC"},"timestamp":1709592659000,"lastUpdatedBy":"19893813804550802745927159516106","edition":"us"},"shortcodeType":"listicle","siteId":1,"subhed":"","supplementalText":"","supplementalUrl":"","techObjectInfo":null,"techProdUuid":"","usePricing":true}">
New Hampshire solar power FAQs
Before tax credits and rebates, the average cost of a residential solar system in New Hampshire is $25,020 -- based on a system size of 6 kW. Your cost will vary depending on the size, pitch and orientation of your roof, as well as your monthly energy consumption and the installer you choose." hed="How much do solar panels in New Hampshire cost? " imagegroup="{}" merchantoffers="[]" usepricing="true" data-key="cnetlisticle__71c4e966-43e6-4d43-b098-9cb85447ed4e" position="NaN" api="{"_id":{"$oid":"65e41c0a37bd9527a189554b"},"newParentVersionId":"092b6c4a-020b-410b-a69b-f391465a5bfe","uuid":"71c4e966-43e6-4d43-b098-9cb85447ed4e","description":"<p>Before tax credits and rebates, the average cost of a residential solar system in New Hampshire is $25,020 -- based on a system size of 6 kW. Your cost will vary depending on the size, pitch and orientation of your roof, as well as your monthly energy consumption and the installer you choose.</p>","dislike":"","hed":"How much do solar panels in New Hampshire cost? ","imageCaptionOverride":"","imageCreditOverride":"","imageGroup":{},"isLive":true,"like":"","merchantOffers":[],"metadata":{"parentId":"f7e686f9-6249-40a6-823f-bb72cac317b3","parentContentType":"content_article","slug":"new-hampshire-solar-panels","dateUpdated":{"date":"2024-03-04 22:50:59.502429","timezone_type":3,"timezone":"UTC"},"timestamp":1709592659000,"lastUpdatedBy":"19893813804550802745927159516106","edition":"us"},"shortcodeType":"listicle","siteId":1,"subhed":"","supplementalText":"","supplementalUrl":"","techObjectInfo":null,"techProdUuid":"","usePricing":true}"> On average, New Hampshire gets 198 days of sun per year -- slightly below the national average of 205 days of sun per year." hed="How many days of sun does New Hampshire get a year?" imagegroup="{}" merchantoffers="[]" usepricing="true" data-key="cnetlisticle__7d91c20d-5e7a-4510-8c7f-ce54300ce4c3" position="NaN" api="{"_id":{"$oid":"65e41c0a37bd9527a1895554"},"newParentVersionId":"092b6c4a-020b-410b-a69b-f391465a5bfe","uuid":"7d91c20d-5e7a-4510-8c7f-ce54300ce4c3","description":"<p>On average, New Hampshire gets 198 days of sun per year -- slightly below the national average of 205 days of sun per year.</p>","dislike":"","hed":"How many days of sun does New Hampshire get a year?","imageCaptionOverride":"","imageCreditOverride":"","imageGroup":{},"isLive":true,"like":"","merchantOffers":[],"metadata":{"parentId":"f7e686f9-6249-40a6-823f-bb72cac317b3","parentContentType":"content_article","slug":"new-hampshire-solar-panels","dateUpdated":{"date":"2024-03-04 22:50:59.509166","timezone_type":3,"timezone":"UTC"},"timestamp":1709592659000,"lastUpdatedBy":"19893813804550802745927159516106","edition":"us"},"shortcodeType":"listicle","siteId":1,"subhed":"","supplementalText":"","supplementalUrl":"","techObjectInfo":null,"techProdUuid":"","usePricing":true}"> The average lifespan of a solar panel is between 15 to 30 years. Your panels won't quit on you once they turn 30. However, the system's performance may decrease as it gets older. Your solar array's longevity will depend on the panels' quality, your climate, ongoing maintenance and other installation factors.&nbsp;" hed="How long do solar panels last?" imagegroup="{}" merchantoffers="[]" usepricing="true" data-key="cnetlisticle__56c654a6-7994-41e3-9f1f-d08e13b4a9dd" position="NaN" api="{"_id":{"$oid":"65e41c0a37bd9527a189555b"},"newParentVersionId":"092b6c4a-020b-410b-a69b-f391465a5bfe","uuid":"56c654a6-7994-41e3-9f1f-d08e13b4a9dd","description":"<p>The average lifespan of a solar panel is between <a href=\"https://www.cnet.com/home/energy-and-utilities/how-long-do-solar-panels-last/\">15 to 30 years</a>. Your panels won't quit on you once they turn 30. However, the system's performance may decrease as it gets older. Your solar array's longevity will depend on the panels' quality, your climate, ongoing maintenance and other installation factors.&nbsp;</p>","dislike":"","hed":"How long do solar panels last?","imageCaptionOverride":"","imageCreditOverride":"","imageGroup":{},"isLive":true,"like":"","merchantOffers":[],"metadata":{"parentId":"f7e686f9-6249-40a6-823f-bb72cac317b3","parentContentType":"content_article","slug":"new-hampshire-solar-panels","dateUpdated":{"date":"2024-03-04 22:50:59.515507","timezone_type":3,"timezone":"UTC"},"timestamp":1709592659000,"lastUpdatedBy":"19893813804550802745927159516106","edition":"us"},"shortcodeType":"listicle","siteId":1,"subhed":"","supplementalText":"","supplementalUrl":"","techObjectInfo":null,"techProdUuid":"","usePricing":true}"> " class="c-energyAuthorInfo sm:u-col-2 md:u-col-6 lg:u-col-6 lg:u-col-start-2 g-border-thin-light-top">
Katherine WattContributor
Katherine Watt is a CNET Money writer focusing on mortgages, home equity and banking. She previously wrote about personal finance for NextAdvisor. Based in New York, Katherine graduated summa cum laude from Colgate University with a bachelor's degree in English literature.
Katherine Watt is a CNET Money writer focusing on mortgages, home equity and banking. She previously wrote about personal finance for NextAdvisor. Based in New York, Katherine graduated summa cum laude from Colgate University with a bachelor's degree in English literature.
CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid. Reviews ethics statement
Katherine WattContributor
Katherine Watt is a CNET Money writer focusing on mortgages, home equity and banking. She previously wrote about personal finance for NextAdvisor. Based in New York, Katherine graduated summa cum laude from Colgate University with a bachelor's degree in English literature.