Maine might be the northernmost state on the East Coast, but that doesn’t mean Mainers can’t save hundreds on their electricity bills when they go solar. EnergySage is here to help you understand the different solar programs in the Pine Tree State, and then give you all the information you need to actually go solar.
The best way to compare your solar options and save money at the same time is by registering on the EnergySage Marketplace. When you compare quotes for solar panels on EnergySage's competitive solar marketplace, you can expect to see prices up to 20% lower than working with a single solar company. Read our updated article on the cost of solar panels to compare solar costs across states and by panel brand.
What are the best solar programs and rebates in Maine
Maine has multiple solar programs and policies in place to make going solar easy in Vacationland. These include:
Home Energy Loans
The state will help finance your solar energy system purchase with a relatively inexpensive loan through Efficiency Maine's Home Energy Loan program. As a Maine homeowner, you can borrow as much as $15,000 for up to 15 years. Interest rates are as low as 4.99%.
When you put solar panels on your roof, you want to make sure you get credit for all of the power your system generates. Luckily, Maine has a net metering policy that credits you for the extra electricity your system produces and allows you to use those credits when your system doesn’t generate enough power.
Additional benefits of going solar in Maine
There's another key solar incentive in Maine to keep in mind:
The federal solar tax credit
Don’t forget about federal solar incentives! With the investment tax credit (ITC), now referred to as the Residential Clean Energy Credit for residential systems, you can reduce the cost of your PV solar energy system by 30 percent. Keep in mind that the ITC applies only to those who buy their PV system outright (either with a cash purchase or a solar loan), and that you must have enough income for the tax credit to be meaningful (unless you’re a tax-exempt entity, in which case you might be eligible for a direct payment).