Incentive Type: State Rebate Program
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat
Applicable Sectors: Residential
Amount: State Rebate: $600, $750, or $900 depending on size
ARRA-funded Rebate: $750
Maximum Incentive: $1650
New Hampshire offers a state-funded rebate for solar thermal hot water heater systems or solar space heating systems and a federally-funded rebate (from the American Recovery and Reinvestment Act, ARRA) for solar thermal hot water heater systems that replace an existing hot water heater. The state rebate is equal to $600 for systems rated output 6 MMBTU - 19.9 MMBTU; $750 for systems rated output of 20 MMBTU - 29.9 MMBTU; and $900 for systems rated output of 30 MMBTU or more. Additional ARRA-funded rebates are $750 regardless of system size.
Incentive Type: Local Loan Program
Eligible Renewable/Other Technologies: Solar Water Heat, Photovoltaics
Applicable Sectors: Commercial, Industrial, Nonprofit, Schools, Multi-Family Residential, Low-Income Residential, Agricultural, (any for-profit or non-profit enterprise)
Amount: $5,000 to $100,000
Maximum Incentive: $100,000
Terms: Loans up to 1-10 years, rates vary from 0 to 5% (subject to change)
The Boston-based non-profit organization New Generation Energy offers low interest loans for the installation of solar electric and solar water heating systems via its Community Lending Program. The solar loans are available to companies (including sole-proprietorship) and non-profits in New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont), with an emphasis on those located in low and middle-income communities. The interest rate is currently 5.0%, although certain projects may be awarded grants and receive a lower interest rate. Only projects applying for loans are eligible for grants. The interest rate and terms are subject to change.
Interested businesses and non-profits should work with solar distributors and/or installers to receive a price quote. After quotes have been received, they must submit a pre-application to the Community Lending Program. New Generation Energy staff will review the pre-application and will invite only qualified projects to complete a full application. A personal guarantee is normally required for loans. After a site visit, the final determination is made and loan terms are offered to the successful applicants.
Taxpayers and commercial business owners are granted an energy tax credit of 30% of the total expenses, which include installation of residential or commercial solar panel (PV) systems, solar thermal systems, fuel cells and labor expenses. Residential wind energy installations and geothermal pumps are also subject to a tax exemption.