Norwich Solar Technologies provides turnkey services for commercial solar electric customers including: Development, Design, Engineering, Procurement, and Construction, Power Purchase Agreements, Structured Financial Solutions and Long-Term Operations and Maintenance.
State Tax Credit
Residential, Commercial, and Industrial utility customers can take a 26% Federal Income Tax Credit to offset the upfront costs of the system.* Some New Hampshire municipalities exempt Solar PV systems from property tax. Check this website for details.
* This is not an offer of financing, which is dependent on bank acceptance and other eligibility criteria being met.
Under the federal Modified Accelerated Cost-Recovery System (MACRS), businesses may recover investments in certain property through depreciation deductions. Renewable energy technologies are classified as five-year property under the MACRS.
100% First-Year Bonus Depreciation
Equipment placed in service after September 27, 2017, and before January 1, 2023, can qualify for 100% bonus depreciation in the first year.
New Hampshire requires all utilities selling electricity in the state to offer net metering to customers who own or operate systems up to one megawatt in capacity. For solar arrays installed behind-your-meter, you also receive credit for transmission and distribution kilowatt-hour charges. If a net metered customer uses more electricity than is generated, the customer pays the utility only for the difference. If the system generates more electricity than the customer used in a month, the utility records a credit for the excess kilowatt-hours towards the next bill.
Solar systems can be eligible for rebates from the state of NH that further improves your solar savings. Rebates are currently on hold but may be reinstated soon. Check this website for details.
*Please consult your financial advisor before making any decisions regarding renewable energy adoption. This is not an offer or guarantee of financing, which is dependent on bank acceptance and other factors.