The cost of solar panels in Maine (2024)

Updated Nov 26, 2024

  • You'll pay an average of $15,858 to install a 5 kilowatt solar panel system in Maine, before incentives.

  • The federal investment tax credit (ITC) lowers that price by 30% of all your solar equipment and installation costs.

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Written by: Emily Walker

As of November 2024, the average solar panel system costs $3.17/W including installation in Maine. For a 5 kW installation, this comes out to about $15,858 before incentives, though prices range from $13,479 to $18,237. After the federal tax credit, the average price drops by 30%.

Average price of a 5 kW solar panel installation in Maine

Good Price
$13,479 or less
Market Average
$15,858
High Price
$18,237 or more

You'll probably pay even less than what we show here. It doesn't include the federal ITC or Maine state incentives, which will lower this price by at least a few thousand dollars.

Your solar panel cost depends on your system's size

It may seem obvious but larger solar panel systems cost more money. We use cost per watt ($/W) so you can easily compare quotes, controlling for slight variations in system size.

While a 5 kW system will only cost you $15,858 in Maine, doubling the system size effectively doubles the price, so you'll pay about twice that for a 10 kW system. The higher the price tag, though, the more you'll get back as a credit towards your federal tax bill.

Average solar cost by system size in Maine

System Size
System Cost
System Cost (after ITC)
3 kW$9,515$6,660
4 kW$12,686$8,880
5 kW$15,858$11,100
6 kW$19,029$13,320
7 kW$22,201$15,541
8 kW$25,372$17,761
9 kW$28,544$19,981
10 kW$31,715$22,201

Are solar panels worth it in Maine?

Solar panels are worth it in most areas, including Maine. Certain factors, including the cost of electricity, incentives, climate, and the angle at which the sun hits your roof impact how quickly you break even on your investment relative to other areas around the U.S. 

If you pay for your system with cash, you'll save about $54,623 over 25 years (the warranty term of most solar panels) on electricity costs with a 5 kW system in Maine. We generate this estimate based on real solar quote data from our Marketplace. It considers your system's cost, the federal tax credit, and inflation rates.

Payback Period
12.57 Years
25-Year Savings
$54,623
Cost-per-Watt
$3.17

If you can't shell out $15,858 in cash to pay for solar, don't sweat it. You can choose to finance your system with a loan instead. Some companies even offer $0-down loans so you can start saving on day one if your loan payments are less than your current electric bills. Just keep in mind that your long-term savings will be lower with a loan due to interest rates.

Find out what solar panels cost in your area in 2024
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The numbers we're showing are averages. The price you'll pay for solar depends on many factors unique to you and your home:

If you're looking for solar companies in ME, here are some popular suggestions:

  • NuWatt Energy
    Kennebunk, ME
    Established 2010
    Elite+ Installer
    At NuWatt Energy, we strive to empower our clients by offering genuine energy independence and enhanced efficienc...
    Elite+ Installer
    Screened & Verified

    At NuWatt Energy, we strive to empower our clients by offering genuine energy independence and enhanced efficienc...
  • Cleantap Energy, LLC.
    Gray, ME
    Established 2018
    Elite Installer
    We are a local Maine company committed to quality workmanship and customer service. We listen to you, understand ...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    4 Reviews

    We are a local Maine company committed to quality workmanship and customer service. We listen to you, understand ...
  • 603 Solar
    Multi-state
    Established 2018
    Elite Installer
    In a world where there are so many solar companies to choose from, how do you make the right choice? Three words ...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    13 Reviews

    In a world where there are so many solar companies to choose from, how do you make the right choice? Three words ...
  • SRsolarNH
    Multi-state
    Established 2022
    Advanced Installer
    If you are looking for a straightforward quote, along with the ability to speak directly with the owner from star...
    Advanced Installer
    Screened & Verified
    5.0 /5.0
    22 Reviews

    If you are looking for a straightforward quote, along with the ability to speak directly with the owner from star...
  • Porter Electrical Contracting
    Multi-state
    Established 2000
    Advanced Installer
    We are a solar energy company that specializes in residential solar installation, commercial solar installation, ...
    Advanced Installer
    Screened & Verified
    5.0 /5.0
    6 Reviews

    We are a solar energy company that specializes in residential solar installation, commercial solar installation, ...

Solar is a major purchase, but you can get the price tag to come down a bit by being an educated shopper. Taking advantage of incentives and rebates and shopping around for quotes can bring down your cost of solar in Maine.

Take advantage of federal and local solar incentives

As long as your federal tax bill is high enough, you can take advantage of the federal tax credit in Maine. This incentive allows you to apply 30% of your solar installation and equipment costs toward your federal tax bill. If the amount exceeds your tax bill, you can roll over the remaining credit to the following year. Many states also offer great local incentives and rebates.

Get quotes from multiple installers

Comparing multiple solar quotes can save you money through competition and transparency. Each additional quote you receive for solar will help you find the right solar panel system at the right price.

This is where EnergySage can help. With funding from the Department of Energy’s SunShot Prize, EnergySage opened the country’s first (and now the largest) marketplace for home solar panel installations. We gather custom solar quotes from local installers on your behalf and put them in an easy-to-compare format. When you compare quotes for solar panels on the EnergySage Marketplace, you can expect to see prices up to 20% lower than if you work with a single solar company.

Why shop with EnergySage?

Save time & money

Request free quotes from vetted installers in minutes

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Our expert Energy Advisors will help you make the right decision

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