Key Points
- Solar power in Maine can be an excellent long-term investment, helping you save thousands over the lifetime of your solar panels.
- Maine's average residential solar system costs about $22,800 for a 6-kilowatt system.
- Local and federal tax credits in Maine can lower solar installation costs.
- Maine has installed enough solar to power 128,816 homes, and its solar industry is positioned to grow significantly in the next five years.
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Solar power FAQs
According to Find Energy, the average homeowner in Maine would pay around $22,800 for a 6-kW solar system before using government incentives. With the 30% solar tax credit, the price of solar panels drops to about $15,960 on average. Your home’s size, energy consumption habits, roof orientation, labor, permitting fees, and other factors will determine the exact cost of solar panels in Maine.
Solar panels can help you save money on energy, but they may not always be the right fit for everyone. To determine if solar panels are worthwhile, consider your home’s solar exposure and energy usage habits. While the upfront investment in solar can be pricey, the panels can help you save money on energy bills over time and lead to thousands of dollars in return on investment over the lifetime of solar panels. Solar panels can also improve your home value. Solar is a great investment if the conditions are right.
How much money you save with solar will depend on your current energy consumption and the amount of energy your solar panels generate. You could save thousands during your solar panels’ lifespan, typically 25–30 years. Remember that electricity rates increase over time, so your savings could be even higher than projected after 20 years.
SaveOnEnergy can help you find the right solar installer. We can estimate savings and help you find a reputable solar installation company near you. To start the process, you can complete this form or call the number on your screen, and we’ll connect you with a local solar installer.
Maine provides a property tax exemption for solar energy equipment and components, meaning the assessed value of the solar system is exempt from your property taxes. The exemption applies specifically to the portion of property value attributed to installing the solar system on a residential or commercial property, not the entire property tax assessment.
Unlike traditional electricity generation, solar power is a renewable resource. It doesn’t emit harmful greenhouse gasses into the atmosphere, such as carbon dioxide and methane. According to PV Magazine, “A single solar panel offsets carbon emissions equivalent to that of ten mature trees.” Therefore, going solar can help cut your home’s carbon footprint.