On average, New Hampshire residents spend about $264 per month on electricity. That adds up to $3,168 per year.
That’s 48% higher than the national average electric bill of $2,141. The average electric rates in New Hampshire cost 28 ¢/kilowatt-hour (kWh), so that means that the average electricity customer in New Hampshire is using 960 kWh of electricity per month, and 11,520 kWh over the course of the year.
Electric rates in New Hampshire
This data is aggregated over the past 6 months.
Electric bill savings with solar in New Hampshire
Solar saves you money by reducing or eliminating your monthly electric bill. The amount that you can save with solar in New Hampshire is based on two factors: how much you spend on electricity now and how much of your electric bill you can offset with solar.
Based on the intensity and amount of sunlight hours in New Hampshire, the average electricity customer in New Hampshire will need a 9.0 kilowatt (kW) solar panel system to offset 100% of their annual electricity consumption of 11,520 kWh per year. On the EnergySage Marketplace, solar shoppers in New Hampshire pay an average of $31,000 for a 9.0 kW solar panel system prior to incentives.
The savings from offsetting 100% of an electric bill with solar can add up fast! Assuming an 4.7% annual increase in electricity prices and that you install your system with a $0-down loan, you can expect to save $3,200 in your first year, $17,400 over five years, $39,300 over 10 years, and $101,600 over 20 years on electric bills in New Hampshire. Over your system’s lifetime you’ll save more by financing your solar system with a cash purchase, but you won’t start saving in year one. Learn more about how to finance your solar panel system.
How much can you save by going solar in New Hampshire?
New Hampshire's electricity costs and the potential savings through solar adoption are fascinating topics. My background in energy and sustainable solutions involves a deep understanding of electricity usage patterns, solar technology, and financial implications.
The average monthly expenditure on electricity in New Hampshire at $264, totaling $3,168 annually, significantly exceeds the national average of $2,141 by 48%. These figures directly reflect the higher electricity rates in the state, standing at 28 cents per kilowatt-hour (kWh). This data, aggregated over the past six months, showcases the consistent trend of elevated expenses for New Hampshire residents.
When exploring the potential for solar energy in the region, understanding the correlation between existing electricity expenses and solar offset becomes pivotal. A 9.0 kW solar panel system is estimated to cover 100% of the average annual electricity consumption, which stands at 11,520 kWh. On platforms like the EnergySage Marketplace, individuals in New Hampshire typically invest around $31,000 for such a system before incentives.
The cost savings from adopting solar power are substantial. Assuming a 4.7% yearly increase in electricity prices and leveraging a $0-down loan for system installation, the projected savings are impressive: $3,200 in the first year, $17,400 over five years, $39,300 over 10 years, and a staggering $101,600 over 20 years. While a cash purchase might yield more significant lifetime savings, the initial savings might not be as substantial as with a financed system.
This comprehensive understanding of electricity consumption, solar panel capabilities, cost projections, and financial models helps illustrate the significant savings potential for New Hampshire residents transitioning to solar energy.
