Installing Windows 7 Home Premium for a 2nd time

You've got a Retail licence which means it is transferable from machine, to machine providing you only have one installation at any one time.

Even if you had an OEM product, providing you're installing it again onto the same motherboard, you're still legally licensed.
 
You can reinstall your operating system as many times as you like. However it wont activate online after the first 5-6 times. After that it requires is a quick, free & simply phone call to Microsofts automated phone activation line :).
 
I recently upgraded the SSD in my netbook and I opted for a reinstall of Windows 7, rather than imaging the drive. Windows automatically activated as normal.
 
I've installed Windows 7 HP (Retail) exactly once, and had to activate it twice in the first week. Once online (successfully), and then again a few days later by phone when it just "forgot" that I'd activated it the first time. Either way it worked and will work for you :)
 
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