Published on: October 15, 2022
Written by Ferris Gregor / Fact-checked by Nova Scarlett
The average cost of residential solar panels in the U.S. is $3.48 per watt, and the average price of a 6 kilowatt (kW) system in Maine is $21,840 before rebates and incentives1. With the current federal tax credit, the cost of a 6 kW system would be reduced to $10,920 after taking into account the 30% investment tax credit (ITC). In addition to the ITC, Maine offers a state rebate of up to $2,000 for qualifying systems2.
The net cost of a 6 kW system after both rebates would be $8,920. Assuming an average production of 850 kilowatt hours (kWh) per month3, a typical 6 kW system will offset about two-thirds of a Maine household’s monthly electricity usage4. Over the course of 10 years, this system will save Mainers approximately $11,700 in utility bills5.
When factoring in the initial cost of installation and other maintenance fees associated with owning solar panels6, the break-even point for most people who go solar in Maine is between 7 and 8 years7. Solar panel systems have an expected lifespan of 25 years or more8, which means that once you’ve reached the break-even point, you can expect decades worth of free electricity – not to mention peace of mind knowing that you’re doing your part to reduce your carbon footprint9.
Maine is a great state for solar power. With an average of 4.3 hours of daily sunshine, Maine ranks among the top states in the nation for solar potential. And, with a strong commitment to renewable energy, Maine is poised to become a leader in solar power.
But are solar panels worth it in Maine? The answer depends on a number of factors, including the cost of electricity, the cost of installation, and available incentives. The cost of electricity in Maine is relatively high, at about 18 cents per kilowatt-hour.
But, because Maine has such great potential for solar power, installing photovoltaic (PV) systems can help offset this cost. In fact, over the long term, PV systems are one of the most cost-effective investments you can make – producing clean, emissions-free electricity that will save you money on your electric bill for decades to come. The upfront costs of installing a PV system can be significant – typically ranging from $15,000 to $30,000 before incentives.
However, there are several federal and state incentives available that can significantly reduce these costs. For example, the federal Solar Investment Tax Credit offers a 30% tax credit for residential and commercial PV installations. Additionally, various state programs offer cash rebates or low-interest loans for PV installations.
These incentives make investing in solar more affordable and increase the financial return on investment (ROI). Ultimately, whether or not investing in solar makes sense for you will depend on your specific circumstances. However, with high electricity rates and strong incentive programs, now is a great time to go solar in Maine!
How Much Do Solar Panels Cost in Maine?
As of July 2019, the average cost of solar panels in Maine is $3.05 per watt. The average system size in Maine is 5 kilowatts (kW), so the average cost of a solar system in Maine is $15,250 before rebates, tax credits, and other incentives. Solar panel costs have fallen significantly in recent years and are expected to continue to drop as technology improves and more installers enter the market.
Maine Solar Incentives
Maine Solar Incentives
Looking to install solar panels in Maine? You’re in luck!
The state has some of the best solar incentives in the country. Here’s a rundown of what you can expect:
Solar Renewable Energy Credits (SRECs): For every 1,000 kilowatt-hours (kWh) of electricity produced by your solar array, you’ll earn one SREC.
These can be sold on the open market for cash, providing a nice return on investment for your solar panel system.
Net Metering: Any excess electricity produced by your solar panels will be credited to your utility account at the full retail rate. This is a great way to offset your energy costs and maximize the savings from your solar installation.
Property Tax Exemption: Solar photovoltaic systems are exempt from property taxes in Maine. This provides a significant financial incentive for going solar.
Solar Companies in Maine
Maine is one of the best states in the country for solar power. That’s because Maine has great solar incentives, an average of 4.3 hours of daily sun, and a net metering program that makes it easy to get credit for excess electricity generated by your solar panels. There are many solar companies operating in Maine, but here are three of the best:
1. ReVision Energy
This employee-owned company has been installing solar PV systems in New England since 2003. They have a strong commitment to customer service and satisfaction and offer free consultations to help you determine if solar is right for you.
2. SolarCity
SolarCity is one of the largest residential solar installers in the country.
In addition to offering competitive prices, they have a unique lease program that can make going solar very affordable.
3. SunRun
SunRun is another large residential installer with a focus on making going solar as easy and affordable as possible for homeowners. They offer several financing options, including leasing and power purchase agreements (PPAs).
Best Solar Companies in Maine
There are many great solar companies in Maine. Here are some of the best:
| SolarCity | SolarCity is a national leader in solar power. They have a strong presence in Maine and offer a variety of solar products and services. |
| SunRun | SunRun is another large national solar company with a strong presence in Maine. They offer both lease and purchase options for their customers. |
| ReVision Energy | ReVision Energy is a local Maine company that specializes in solar power. They have a wide array of experience and provide residential and commercial solar solutions. |
Solar Panels for Sale in Maine
Looking for solar panels in Maine? You’ve come to the right place! Solar panel prices have dropped significantly in recent years, making them a more affordable option for homeowners and businesses alike.
In addition, state and federal tax incentives make going solar even more attractive. Here at Solar Energy World, we have a wide selection of solar panels for sale, from leading manufacturers like SunPower, LG, and Panasonic. We can help you find the perfect solar panel system for your needs and budget.
Solar power is a great way to save money on your energy bills and do your part to reduce your carbon footprint. Contact us today to learn more about our solar panels for sale in Maine!
Solar Providers Near Me
Are you interested in finding solar providers near you? There are many benefits to using solar energy, including lower energy bills and a smaller carbon footprint. Solar energy is also a great way to reduce your dependence on fossil fuels.
If you live in an area with ample sunlight, installing solar panels can be a great way to save money on your energy bill and help the environment. However, before you install solar panels, it’s important to find a reputable solar provider who can help you choose the right system for your home or business.
When looking for a solar provider, it’s important to consider their experience, customer service record, and price.
You should also make sure they are licensed and insured. Once you’ve found a few potential providers, it’s time to start comparing prices and services.
Before signing any contracts, be sure to read the fine print carefully.
Make sure you understand all the terms and conditions of the agreement. Once you’ve found the right provider, enjoy the savings on your energy bill and the peace of mind that comes with knowing you’re doing your part to protect the environment!
Join Solar Maine Reviews
Looking to go solar in Maine? Join Solar Maine is a great way to get started! This program is designed to connect Mainers who are interested in going solar with resources and information.
Through Solar Maine, you can find out about different types of solar systems, get advice from experts, and learn about incentives and financing options. Plus, you can connect with other Mainers who are already using solar power. Going solar is a great way to save money on your energy bills and help the environment.
So why wait? Join Solar Maine today!
Free Solar Panels Maine
Maine is one of the best states in the country for solar power. That’s because we have great sun exposure and high electricity rates. In fact, Maine ranks 4th in the nation for solar potential.
But what does that mean for you? It means that if you install solar panels in your home or business, you can save a lot of money on your electric bills. In fact, over the life of your system, you could save tens of thousands of dollars!
And with net metering, you can even sell excess electricity back to the grid and earn credits on your bill. Installing solar panels is a great investment, and there are plenty of incentives to help offset the cost. The federal government offers a tax credit equal to 30% of the cost of your system.
And many utilities offer rebates as well. In Maine, Central Maine Power offers a $1,000 rebate for residential customers who install solar panels. With all these incentives, there has never been a better time to go solar in Maine!
FAQs
Do Solar Panels Make Sense in Maine?
Maine is a great state for solar power for a few reasons.
- First, Maine has high electricity rates, which makes the payback period for investing in solar panels much shorter than in other states;
- Secondly, Maine gets a decent amount of sun – not as much as some southern states, but enough to make solar panels a good investment;
- Third, there are significant state and federal incentives available for homeowners who install solar panels in Maine.
So if you’re thinking about going solar in Maine, the answer is yes – it definitely makes sense! If you have any further questions about going solar in Maine, feel free to contact me and I’ll be happy to help out.
Do Solar Brokers Assist in Determining if Solar Panels are Worth It in Maine?
In Maine, a solar broker career path can be helpful in determining if solar panels are worth it for your home. Solar brokers can provide valuable insight into the potential cost savings, available incentives, and overall feasibility of installing solar panels in your specific location.
Are the Considerations for Solar Panel Installation in Maine Different from Other Locations?
When considering solar panel installation in Maine, there are unique factors to keep in mind. Seasonal changes and the angle of the sun play a crucial role in maximizing solar energy production. It’s important to follow specific solar panel installation tips to ensure optimal performance in Maine’s climate.
How Can the Renewable Fuel Standard Impact the Use of Solar Panels in Maine?
The challenges in renewable fuel standard may impact the use of solar panels in Maine by creating competition for government support and resources. As the state navigates the balance between renewable fuel requirements and promoting solar energy, businesses and consumers may face uncertainty and delays in pursuing solar initiatives.
What Are the Factors to Consider When Deciding if Solar Panels Are Worth It in a Specific Location?
When considering San Antonio solar options, a few factors to consider include the amount of sunlight in the area, potential savings on energy bills, available incentives and rebates, and the cost of installation. Additionally, it’s important to assess the condition of the roof and any potential shading from nearby buildings or trees.
What is the Potential for Using Solar Power in Maine?
Solar power is a viable option for generating electricity in Maine. The state has an average solar insolation of 4.3 kilowatt-hours per square meter per day, which is higher than the national average of 4.0 kilowatt-hours per square meter per day. Additionally, the cost of installing solar panels has decreased significantly in recent years, making it a more affordable option for homeowners and businesses alike.
Maine also offers a number of incentives for those who choose to install solar panels, including a rebate of up to $2,000 from Efficiency Maine and a 30% federal tax credit. These incentives make going solar even more attractive financially, making it an increasingly popular choice for those looking to generate their own electricity in Maine.
How Can I Determine If Solar Panels are Worth It for My RV in Maine?
When considering the investment in RV solar panels in Maine, it’s essential to evaluate factors like your RV’s energy consumption, the cost of installation, and potential savings on campground fees. By analyzing these aspects, you can determine if installing rv solar panels is worth it for your specific situation.
Is Solar Viable in Maine?
Yes, solar is viable in Maine! Solar panels work by converting sunlight into electricity, and Maine gets plenty of suns. In fact, according to the National Renewable Energy Laboratory, Maine has the potential to generate nearly 3,000 megawatts of solar power.
That’s enough to power more than half a million homes! There are already several large solar farms in Maine, and many homeowners and businesses are also generating their own power with rooftop panels. With the cost of solar technology dropping rapidly, it’s only going to become more common.
The main challenge with solar in Maine is that we have a lot of cloudy days. But even on cloudy days, solar panels can produce some electricity. And as battery technology continues to improve, it will become easier to store excess power for use when the sun isn’t shining.
Is It Worth Paying off Solar Panels?
It depends. Solar panels can last 25-30 years, so if you plan on staying in your home for that long, it may be worth paying off the solar panels. However, if you plan on selling your home before then, it may not be worth it since the new homeowners would likely get the benefit of the panels rather than you.
In general, though, solar panels increase the value of your home and can help offset energy costs, so they are usually a good investment.
Conclusion
Solar panels are a great investment in Maine. Solar may save you money on your electric bill, and with the right incentives. Solar is also good for the environment, and with Maine’s abundant sun resources, there’s no reason not to go solar.
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