As a solar consultant, I talk to homeowners every day who are tired of rising electricity costs. If you're with Eversource, you've likely felt the pinch of rate hikes. Just recently, Eversource filed for approval to increase rates again, citing the need for infrastructure improvements and operational costs. But where does that leave you, the homeowner? Stuck paying higher and higher bills with no control over your costs. Held captive by a monopoly.
Switching to solar energy isn’t just about being eco-friendly—it’s the best hedge against inflation when it comes to your electricity costs. And, it allow you be break free from the utilities hold on you.
Eversource's Proposed Rate Increases: What You Need to Know
In June 2024, Eversource Energy filed a proposal with New Hampshire state regulators seeking a $182 million distribution rate increase. If approved, this would result in an average 17% increase in residential bills over two years. For a typical household consuming 600 kWh per month, this translates to an approximate $9 (7%) increase in August 2024, followed by an additional $13 (10%) increase in August 2025.
The proposed rate hike aims to fund several initiatives, including:
Storm Hardening – Improving infrastructure to withstand extreme weather events.
Grid Automation Investments – Enhancing efficiency and reliability through advanced technology.
Vegetation Management – Clearing vegetation near power lines to prevent outages.
While Eversource argues that these increases are necessary to fund improvements, many homeowners see them as yet another unavoidable expense.
The Rising Cost of Grid Electricity
New Hampshire residents pay some of the highest electricity rates in the country, and history has shown that these rates only go one way—up. Let's look at what happens to your energy bill if you continue with the utility company versus switching to solar today.
Cost Comparison: Utility vs. Solar Over Time*
For this comparison, we assume:
A household consumes 7,500 kWh per year
Current utility rate: $0.25 per kWh
Annual utility rate increase: 4.9% per year (historical average)
Solar rate: $0.19 per kWh (fixed for 25+ years)
What You Pay If You Stay With the Utility Company
Year | Utility Rate (per kWh) | Annual Cost | Monthly Cost |
1 | $0.25 | $1,875 | $156.25 |
10 | $0.40 | $3,000 | $250.00 |
20 | $0.66 | $4,950 | $412.50 |
*This is a hypothetical situation based upon historical rate increases and scenarios we have experienced
What You Pay With Solar**
Year | Solar Rate (per kWh) | Annual Cost | Monthly Cost |
1 | $0.19 | $1,425 | $118.75 |
10 | $0.19 | $1,425 | $118.75 |
20 | $0.19 | $1,425 | $118.75 |
** Every home is unique. Some home qualify for 0% increase.
The Results Are Clear
If you stay with Eversource, your monthly bill could more than double over the next 20 years. But with solar, you lock in your rate from day one.
After just 10 years, you're saving over $130 per month, and after 20 years, your monthly savings grow to nearly $300 per month compared to staying with the utility company.
What If You Invested Those Savings?
Now, let’s take this a step further. What if, instead of simply pocketing the savings, you invested that extra money in a Roth IRA, where it could grow tax-free?
Assuming an 8% annual return, here’s what your solar savings could turn into:
Imagine This for Yourself—or Your Kids
This isn’t just about cutting your electric bill. It’s about building long-term wealth.
Imagine setting this money aside for your own retirement or starting an investment fund for your children. Instead of paying the utility company more and more every year, you could be building a tax-free nest egg that provides financial security for the future.
THIS IS YOUR MONEY, STOP GIVING IT AWAY!
Solar: Your Best Hedge Against Inflation
The cost of everything is going up—gas, groceries, insurance, and yes, electricity. But solar lets you take control of at least one major expense.
No More Surprises – Unlike utility rates, which fluctuate and increase annually, solar locks in your cost for 25+ years.
Savings That Grow Over Time – The longer you have solar, the more money you keep in your pocket.
Build Wealth Instead of Paying Bills – Investing the savings from solar can create a six-figure retirement fund.
Increase Your Home’s Value – Homes with solar sell for more and sell faster than those without.
Energy Independence – With the option of adding battery storage, you can produce and use your own power, even during outages.
Solar Is Not for Everyone—Choosing the Right NH Solar Company Matters
The reality is, solar is not for every home. In fact, only 15-20% of homes qualify for solar with ideal conditions. That’s why working with a knowledgeable consultant is critical.
Unfortunately, the solar industry is the wild west right now, with many companies making false promises and using misleading sales tactics just to get contracts signed.
At Venture Solar, we take a different approach:
✅ Honesty first – If solar isn’t right for you, we will tell you.
✅ We only proceed if it saves you money – No pressure, no gimmicks.
✅ Proven customer satisfaction
We have a 4.66-star rating on Solar Reviews because we prioritize customer experience.
When solar is planned properly, it’s a wise investment that can transform your financial future. That’s why having a consultant who is honest and experienced is absolutely essential.
The Choice is Yours
Do you want to continue paying more every year for electricity, or do you want to own your power and control your costs?
Going solar is one of the smartest financial decisions you can make. Let’s get you started on saving money and building wealth today!
Book a Free Assessment today to see if your home qualifies for 0% down solar savings. When you need a NH Solar Company choose the best! Venture Solar
Good info. If a home qualifies for solar it really is a wise decision.