With nearly 5 peak sunlight hours per day, a PV system in Maine can substantially cut your electricity bills. You can make your solar switch easier with the help of solar incentives in Maine. In this article, we’ll walk you through the main ones.
The US government wants more people to go solar: it’s a modern and green way of getting energy. This is why the Solar Investment Tax Credit (ITC) program was developed. It allows American citizens to claim 30% of the cost of their installation as an income tax deduction. The cost here is not only solar panels, but also shipping, installation expenses and more. For example, if your system overall made you spend $10,000, the government returns you $3,000. To claim the ITC, complete all the necessary forms and submit them when filing your taxes.
Solar laws in Maine allow customers of investor-owned utilities and electric cooperatives to join net metering programs for solar systems up to 5MW. This gives residential solar owners an opportunity to put the excess electricity into the utility grid instead of storing it in batteries.
Unused electricity will be stored as credits with your utility. They will roll over monthly for a year and zero out future bills. At the end of the annual cycle any unused credits will be granted to your utility with no compensation. The value of a credit is determined by your location and power utility.
Maine residents invested in a solar energy system will not have to pay any additional property taxes on the added value they bring to their homes due to the property tax exemption for renewable energy systems. Maine Revised Statutes ensure any new PV system installed will not be part of your property tax. However, any such home improvement will definitely make it about 4% more valuable on the property market, says the Zillow report.
4%
this is how much solar panels increase the value of your house
A solar easement contract is a written agreement between you and another party, for example, your neighbor. This type of contract helps to ensure that your PV system will always have adequate sun exposure, protecting you from potential obstacles. It is voluntary, but can not be canceled unless a specific clause is included in the document. Once signed, it is tied to the land, not the owner. Any such agreement must be created in written form and must meet the general requirements for legal contracts.
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Years of experience in translation and a love of nature help Julia find the right words to encourage going solar. She joined the team in 2023 and is happy to make her contribution to a greener future.
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