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.
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:
The state will also help finance your purchase of a solar energy system with a relatively inexpensive loan. With a Property-Assessed Clean Energy (PACE) Loan, you pay no money down, and instead of monthly loan payments, you repay with an annual assessment on your property taxes. In Maine, you can get a PACE loan for up to $15,000 for 15 years at a 4.99% interest rate.
Community solar in Maine
Maine has also passed laws to encourage the piloting of "community shared solar", a model that would allow Mainers to buy into larger, shared solar installations. While all specifics are still being hammered out, keep your eyes peeled for the option to go solar without actually having to put any panels on your own roof.
Additional benefits of going solar in Maine
There are a few more solar incentives in Maine to keep in mind:
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.
The federal solar tax credit
Don’t forget about federal solar incentives! With the Investment Tax Credit (ITC), you can reduce the cost of your PV solar energy system by 26 percent. Keep in mind that the ITC applies only to those who buy their PV system outright (either with a cash purchase or solar loan), and that you must have enough income for the tax credit be meaningful.