MORE ABOUT SOLAR
REC's, Tax Credits & Rebates & Sample Net Metering Bill
RENEWABLE ENERGY CREDITS (REC'S)
Typical Questions Asked By Clients:
-What is a REC?
Renewable Energy Credits (REC's) are created from every megawatt hour of electricity produced by a solar generator. A 10kW system produces about 12 REC's a year. REC's are sold separately from electricity and are created regardless of whether the electricity is used on site or sold elsewhere.
-What is a REC Worth?
It's currently changing quickly, but anywhere from $15-25 each.
-How Do I Get Paid?
All jobs include a revenue-grade REC meter, which automatically sends the REC aggregator the number of REC's you have produced. They will sell your REC's quarterly, and send you a check.
-When Do I Get Paid?
At the end of a full quarter, the aggregator will sell your REC's at auction and send you a check.
Q1 REC's are minted on July 15th, check should be received in August.
Q2 REC's are minted on October 15th, check should be recieved in November.
Q3 REC's are minted on January 15th (of the next year), check should be recieved in February.
Q4 REC's are minted on April 15th, check should be received in May.
SOLAR TAX CREDITS & REBATES
Federal Tax Credit - 30% federal tax credit uncapped (for taxpayers). Credit is based on size of solar system. This federal solar credit is claimed on IRS form 5695. Investment Tax Credit (ITC) is available through the end of 2022, at this time.
Public Utilities Commission (PUC) Rebate
Residential - As of July 1st, 2017 - The amount of the NH State residential PUC rebate will be changing for this fiscal year. This will be updated once we are informed what the new rebate will be - should be decided by September 1st, 2017.
Commercial - As of July 1st, 2017 - The amount of the NH State commercial PUC rebate will be changing for this fiscal year. This will be updated once we are informed what the new rebate will be - should be decided by September 1st, 2017
Several towns in New Hampshire provide property tax exemptions for renewables. NH.Gov lists cities and towns that have adopted one or more renewable energy property tax exemptions based on data received from towns through annual municipal land use regulation database survey. Please consult local officials for current renewable energy tax exemption status. For more information click here.
SAMPLE NET METERING UTILITY BILL
How to read your Net Metering bill - Eversource
Once you've gone solar, your utility company will list what you produce from your array, what you are using and what your carry over is.
Click here to see a sample!