Maine Solar Information

Maine isn't a bad state for solar but far from the strongest. There is a state tax credit that reduces your income tax. Along with basically wiping out your state income tax although not required by the state the three major utilities servicing all of Idaho offer net metering. As always in Idaho you are entitled to the 30% federal tax credit.
  • #46
    Maine ranks in America for savings from installing solar panels on
  • #5469.62 kWh
    AC Energy output every year in Maine in 4 kW system
  • #4.66 kWh
    Solar Radiation (kWh / m2 / day)
  • 9 ¢ /kWh
    The cost of electricity today in Bangor Hydro Electric Co
  • 19 ¢ /kWh
    If you don't get solar. The forecast average utility price over the next 25 years

California Solar Facts

  • $1.5
    Average cost of a 4kw solar power system in 2019.
  • 7 years
    Average system payback period.
  • $38 128
    Average lifetime savings.
  • 4 ¢ /kWh
    Levelized cost of solar energy.
  • 5 kW
    Recommended system size.

Maine may not be the leader in the solar market today but it does not mean it does not have almost perfect conditions for solar power installations. Maine receives plentiful sunshine throughout the year and the climate in the state is cooler, which is also favorable for solar installations. Even though solar panels will be covered in snow in winter, they will generate an excessive amount of energy in spring, fall, and summer, helping to make up for any lost electricity.

Maine Solar Facts

  • Maine receives 33% more sunshine than Germany, which is the leader in solar manufacturing.
  • 100% of the state’s electricity will come from clean power sources, like solar, by the year 2050.
  • Maine recently passed the law, which increased the number of customers who can receive power from community solar farms.
  • Electricity cost in Maine is higher than in most of the states and it keeps rising, which means you will be saving more money after transitioning to solar energy.

The Cost of Solar Panels in Maine

In Maine, the average solar panel cost as of July 2019 is $3.02/W. If you are looking to install the 5kW solar panel system you will pay anywhere from $12,800 to $17,300, with the average gross price for solar being about $15,000. This price does not take into account the Federal Investment Tax Credit, state incentives and other programs. After applying these, the net solar price can drop by thousands of dollars.

Maine Solar Rebates and Tax Credits

The Federal Investment Tax Credit – federal government program that rewards you for investing in solar energy. You get a 30% credit on your taxes in the following year after installing solar panels, including parts and labor.

Property-Assessed Clean Energy (PACE) Loan - state financial incentive that allows people to borrow money to pay for solar installations. In Maine, the loan amount can be for up to $15,000 for 15 years at a 4.99% interest rate.

  • How much do solar panels cost in Maine
  • $1.5
    per watt
  • $7 060
    total
  • 7
    years

Pros and Cons of Buying Solar Panels in Maine

Pros:

  • +

    Relatively short payback period

    The average solar payback period in the USA is around 8 years. To calculate payback time you need to determine the gross cost of the solar system and annual benefits that will come with solar. Lower solar equipment prices and increased electricity rates are making the payback period shorter for many homeowners.
  • +

    After the payback period, solar power is free

    When you break-even on your solar panel installation, you will start earning money. The solar energy system will not only generate free energy but also will potentially give you the opportunity to sell unused electricity.
  • +

    Great savings on a monthly electric bill

    Because of increased utility electricity rates, you will start saving money the moment the solar energy system is installed since you will be generating your own electricity. The bigger PV system you put in, the greater the saving you might benefit from. Maine residents see their electric bill reduced by at least 50% after installing solar panels.
  • +

    Helping the environment since solar energy is clean, sustainable, and renewable

    Solar power is a renewable and clean source of energy. Unlike tradition fossil fuel, the generation of solar energy does not pollute water and air since it does not produce greenhouses gases. Solar energy is available to us everywhere in the world and it is infinite, unlike fossil fuels resources that are very limited.
  • +

    Support from the government and the state

    The price of solar panel installation continues to go down and has reached the most affordable rates in years. In addition, with the government support in a form of Tax Solar Credit and Net Metering program available from all utility companies in Maine, you can save thousands on the solar energy system.
  • +

    Very low maintenance

    The majority of the solar panels require very minimal maintenance, which consists of only a light cleaning. Since solar panels have no moving parts, there is no wear and tear with usage, and the chances of any breakage are extremely low.
  • +

    Excellent warranty protection

    Today all solar panels come with performance warranty and product guarantee. For the majority of solar panel brands, performance warranty guarantees efficient energy production for at least 25 years. Extended product warranties ensure repairs of any defective equipment for up to 25 years.
  • +

    Increase in the property value

    A recent study by the Appraisal Institute found that homes with solar panels sell much faster and at higher prices compared to homes without solar energy systems. Homebuyers view solar arrays as an upgrade, and willing to pay on average $15,000 more for a house with an installed PV system.

Cons:

  • -

    The possible high initial cost

    One of the main disadvantages of solar panels is their cost. The initial installation of a solar power system will include the cost of solar panels, battery, inverter, all the necessary accessories, mounting equipment, and the installation itself. That expense can be fairly high. Fortunately, there are federal solar tax credit and various state incentives that will bring the cost down by thousands of dollars. Moreover, with the technology moving forward, the prices are inevitable going down, making solar as affordable as never before.
  • -

    Need to have a large, open area for installation

    Solar panels rely heavily on sunlight to generate solar energy; therefore, they have to be mounted on open, large spaces that are free from shade to work efficiently. Unfortunately, some people do not have that much space on the roof of their houses. The good news is that solar panels can also be installed on the ground if they still have access to sunlight.
  • -

    Must be a property owner to install

    Unfortunately, if you are a renter, you might not be able to install solar power panels yet. As of today, solar energy system installations are only available for homeowners with good credit and good income.

Maine’s Solar Incentives

Net Metering- all utility companies in Maine provide their customers with Net Metering. This program allows for any excess energy that was generated by the solar panels to be credited back to the customer’s next month's electric bill.

Is It Worth It to Go Solar in Maine?

Looking at Maine’s solar energy advantages and disadvantages, one can see that the advantages clearly outweigh the disadvantages. With the prices lower than ever and the great support from the government, there is no reason not to become a part of the solar community and start making your own electricity.





According to Bangor Hydro Electric Co, we received the cost of kWH in your area and calculated energy consumption based on an average electricity bill for 3 months.
I am claiming the 30% Federal Tax Credit (ends 2019) i

When you install your solar system, 30% of your project expenses apply toward a credit to offset any taxes you owe that year. This federal tax credit is a major incentive to go solar, but it is being phased out by 2022.

Most people are eligible to claim this credit (you must owe federal taxes to be eligible).

Relevant product for your system

Entry-level solar panels
See all panels
Entry-level microinverter
See all microinverters
Entry-level inverter
See all inverters
  • Mini
  • Small
  • Medium
  • Large
We recommended
4.72 kW medium system size
Provides up to 80% of electricity consumption
$1.5 per watt
Average system cost
  • image rec 3
    15 x 325 watt
    solar panels
  • +
  • image rec 3
    15 x 300 watt
    microinverter
  • +
  • image rec 3
    1 x 5 000 watt
    inverter
$69.81
in month. Estimated savings
on your average quarterly bill
  • $7 060.36
    Estimated system cost
    Excludes 30% Federal Tax Credit.
    This price does not include the installation cost.
  • 7 years
    Average system
    payback period
  • $38 127.71
    Estimated utility savings

Example of 4 kW system calculation in Minnesota for electricity bill $100

  • 9 ¢ /kWh
    The cost of electricity today in Bangor Hydro Electric Co
  • 19 ¢ /kWh
    If you don't get solar. The forecast average utility price over the next 25 years
  • 4 ¢ /kWh
    levelized cost of solar energy

Get the results of the calculation in the mail

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