A New Hampshire electricity bill separates three things: supply, which is the energy itself; transmission, which is moving it across the high voltage network; and distribution, which is the local wires and poles that bring it to your house.
Under Net Metering 2.0 an exported kilowatt hour is credited at 100 percent of supply, 100 percent of transmission, and 25 percent of distribution.
The reasoning offered for the discount is that a solar customer still relies on the distribution network to import power when the sun is not shining, so should still contribute to it. Whether or not you find that persuasive, it is the arrangement.
The size of the shortfall therefore depends on how large the distribution component is on your bill, which differs between Eversource, Unitil and Liberty. That is why the credit lands anywhere from roughly 75 to 95 percent of retail rather than at one number.
What a partial credit changes about the design
Less than most people assume, and more than nothing. New Hampshire sits between states that kept full retail credit and states that pay avoided cost, so the design implications are real but moderate.
Electricity you consume at the moment it is generated displaces the full retail price, because you simply do not buy it. That remains the most valuable thing your system does.
So load shifting is worth doing. Running the dishwasher, laundry or an electric vehicle charger in daylight converts a partially credited export into a fully avoided purchase.
And a system generating a large annual surplus is converting full-value electricity into partial-value credit, which is an argument for sizing to your household rather than to your roof.
Checking the quote used the right credit
Ask what export credit rate the projection applied and whether it was derived from the Net Metering 2.0 formula or simply set at the retail rate. A model crediting exports at full retail overstates a New Hampshire project.
Ask which utility rate components it used. Since the shortfall is entirely in the distribution charge, the answer depends on your specific utility and a statewide approximation will be wrong in one direction or the other.
Ask for the savings split into two lines: value from self-consumed generation at the full retail rate, and value from exports at the Net Metering 2.0 credit. That split is what lets you check the arithmetic.
Ask what self-consumption share the model assumed. That assumption determines how much of your production earns the full rate rather than the partial credit.
The pieces that remain, kept separate
The 30 percent federal Residential Clean Energy Credit under Section 25D expired for property placed in service after December 31, 2025, so a cash or loan purchase in Manchester receives no federal tax credit, and New Hampshire has no state income tax credit.
The state solar rebate that paid $0.20 per watt up to $1,000 was permanently repealed by SB 303 in 2024, so there is no rebate either.
What exists is Net Metering 2.0 crediting exports at the partial rate described above, the RSA 72:62 property tax exemption if your municipality has adopted it, and the absence of any sales tax on the equipment.
Then add the electricity you stop buying at roughly 24 to 27 cents per kWh, which is the largest term by far. Ask for the projection with self-consumption and export shown separately.