Are you considering installing a solar battery in the Granite State? Fortunately, there are some financial incentives available to help you save on costs, especially if you’re a customer of Eversource or Liberty Utilities. Full disclosure: these incentives…rock (we know, cheesy NH joke…just couldn’t help ourselves).
The best way to compare your solar options and save money at the same time is by registering on the EnergySage Marketplace. When you compare quotes for solar panels on EnergySage's competitive solar marketplace, you can expect to see prices up to 20% lower than working with a single solar company. Read our updated article on the cost of solar panels to compare solar costs across states and by panel brand.
What storage incentives are available in New Hampshire?
As of September 2020, New Hampshire does not have any statewide energy storage incentives. However, both Eversource and Liberty Utilities offer particularly attractive programs to their customers installing batteries:
The ConnectedSolutions Program, available to Eversource customers, is a demand response program that pays you an annual incentive in exchange for allowing your utility company to access and use electricity you store in your battery during times of peak energy demand.
In NH, you can receive $225 per kW during the summer events (i.e. times when they pull electricity from the battery) Program participants will experience between 30 and 60 events from June 1 to September 30th, and a single event can last no longer than 3 hours.
Your overall incentive benefit will depend on the number of events per year and how much power your solar battery can provide, but according to Eversource, “A typical home battery could contribute an average of 5 kW per event. This would earn $1,125 [each] summer season.”
Liberty Utilities’ battery storage pilot program
Liberty Utilities provides its own pilot program for homeowners interested in installing a Tesla Powerwall battery.
As a participant in this program, Liberty Utilities will allow you to lease up to two Tesla Powerwalls for your home, no solar panel system required. Similar to the ConnectedSolutions program from Eversource, Liberty Utilities will draw electricity from the battery during peak events to help reduce stress on the electricity grid. When your power goes out, you’ll benefit from a source of backup energy. According to Liberty Utilities’ website, the battery will provide 8 to 12 hours worth of backup power depending on the charge level and the number of devices drawing power from it.
Liberty Utilities offers two different leasing payment options: monthly payments of $25 per battery for ten years, or an upfront payment of $4,866. Either way, because this is a lease, Liberty Utilities owns and maintains the battery throughout the lease agreement.
New Hampshire tax benefits for energy storage
If you’re pairing your home solar panel system with a battery, the federal investment tax credit (ITC) can help you save thousands on the cost of your battery, regardless of your utility company:
The federal investment tax credit (ITC)
With the federal investment tax credit (ITC), you can claim up to 30 percent of the cost of your solar battery as a credit towards your federal taxes. For most homeowners, the ITC can help decrease the cost of a battery by an additional $3,000 to $4,000.
Importantly, standalone storage is not currently eligible for this credit – but it will be starting in 2023 thanks to the Inflation Reduction Act! To claim this incentive for the remainder of 2022, you need to charge your battery with an on-site renewable energy source (like rooftop solar). If you have a residential solar panel system and you charge your battery with electricity from the grid, you cannot take advantage of this credit right now.