Cost of Solar Panels In Maine
Updated August 30, 2024 | 9 min read
Did you know that more than 8% of all of Maine's electricity comes from solar energy? That is more than double the national average of 3.4%! With plenty of sunlight in all of its seasons and so many financial incentives, more than 130,000+ homes have made the switch to solar energy in Maine.
But how much does it cost to install solar panels in Maine? Read our guide below to see how much it costs to install solar panels in Maine, or request a customized solar quote for your home, in minutes!
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How Much Do Solar Panels Cost In Maine?
The latest solar industry data shows that the average cost of solar panels in Maine ranges from $9,000 to $14,000, depending on the energy needs of your home. The average home size in Maine is approximately 1,800 sq ft., making the average cost of solar panels in Maine around $12,929 prior to taking advantage of Maine's solar incentives.
Here’s a more complete breakdown of the cost of solar panels in Maine, by home size.
Home Size (sq ft) |
System Size |
Average Costs |
|---|---|---|
| 1,500 - 1,750 | 3 kW | $9,211 |
| 1,750 - 2,000 | 4 kW | $12,929 |
| 2,000 - 2,300 | 5 kW | $14,440 |
| 2,300 - 2,500 | 6 kW | $16,765 |
| 2,500 - 2,800 | 7 kW | $19,183 |
| 2,800 - 3,000 | 8 kW | $22,058 |
** It's important to note that these costs DO NOT include the thousands you can save by utilizing your Maine Solar Incentives. See which solar financial incentives you qualify for by entering your zip code below!
Enter your zip code to see which Maine Solar Incentives your qualify for!
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Factors Impacting the Cost of Solar in Maine
Installing solar panels in Maine is not just an eco-friendly decision; it's also economically savvy. The cost to adopt solar energy in Maine depends on a few key factors; How much energy your home uses & needs, The type of solar panels that are best for your home, and any extras you might opt for, such as additional solar panels or a solar battery.
Though there might be some variability in starting expenses, Maine homeowners typically find notable savings in the long run. On average, solar adopters in Maine shave off 40% to 60% of their electricity bills. And the best part? In many cases, solar setups in Maine recoup their cost in less than 10 years!
Costs of Installation & Labor
Embarking on the solar journey in Maine involves more than just purchasing the panels. Keep in mind the costs associated with installation, obtaining necessary permits, and ensuring inspections are conducted for optimal setup. Collectively, these considerations usually make up about 10% to 20% of the total solar expenditure.
But there's uplifting news! There are ways to reduce & even eliminate your upfront costs for solar. Dive into our guide on getting solar panels installed for free in Maine!
Breakdown of Equipment Costs
When it comes to equipment expenses for Maine's solar initiatives, a substantial 60-70% of the total cost is devoted to core components. This encompasses the solar panels themselves, essential inverters, and mounting hardware. Together, they form the backbone of your solar system, converting sun rays into sustainable energy for your household over many sunlit years.
Solar Tax Considerations
For those purchasing solar in Maine, there are tax implications to ponder. These include potential sales taxes at the point of purchase and property tax adjustments due to the potential increase in home value. However, residential solar panel systems are exempt from these taxes in Maine!
Enter your zip code below to see more tax benefits of Maine solar panels!
Enter your zip code to see which Maine Solar Incentives your home qualifies for!
Do I Qualify?
Please enter a zip code
Ways to Decrease the Cost of Solar Panels in Maine
Embracing solar energy in Maine contributes to a cleaner form of energy production and comes with numerous financial advantages. Given Maine's dedication to promoting solar energy energy, there are many solar incentives for homeowners who adopt renewable energy sources.
Wondering about the solar incentives you might be eligible for? It's best to consult with Maine's solar specialists. They can shed light on any available solar discounts, walk you through application procedures, and offer a customized solar quote for your home or business!
ROI on Solar | Solar Payback Period
How long does it take for solar panels to pay for themselves in Maine? Considering the high cost of electricity and substantial solar incentives, many homeowners find that their investment pays off in just 7-9 years! Once the initial cost is recovered, the benefits keep rolling in, adding to the many reasons solar panels are worth it in Maine!
Solar Financing Alternatives
Although there may be many benefits to solar energy in Maine, some homeowners are concerned about how much it might cost to install solar panels. Fortunately, there are various solar financing avenues, such as power purchase agreements (PPAs) and solar loans, to ensure that adopting solar energy is manageable without straining your finances. With a PPA or a solar loan, you can commence your solar journey without a substantial initial expense.
Keen to delve deeper into no-upfront cost solar solutions? Discover the ins and outs of getting your solar panels installed for free in Maine!
Maine's Solar Incentives
Maine has some of the most progressive and numerous solar incentives in the US. Here, homeowners can leverage federal solar tax breaks along with state-specific discounts and rebates. These incentives can help you save thousands on your solar investment!
Transitioning to solar in Maine is now more affordable than ever. Coupling Maine's enticing solar incentives with diverse financing strategies, you're poised to join the renewable energy revolution, harnessing the sun's bounty while keeping costs in check!
Enter your zip code below to see which Maine Solar Incentives you qualify for!
Do I Qualify?
Please enter a zip code
Are Solar Panels Worth it in Maine?
Yes! For most homeowners in Maine, solar panels mean big savings on your electric bills and a step towards a cleaner energy production. Maine backs solar with many financial incentives and tax savings. Most solar owners in Maine recoup their investment in less than 10 years. After that, solar savings keep adding up for 20-30 years or even more!
Read Also: Are Solar Panels Worth it in Maine?
Thinking about solar in Maine? It can be easy and rewarding with the right help. You can quickly get a free solar panel quote. This gives you a full look at your home's solar potential, the solar savings you might get, and an idea of how much you could save. Ready to learn more? Check out solar for yourself today, with no strings attached. Join the many Maine homeowners enjoying the benefits of solar power!
Make the switch to solar and start saving in Maine!
Contact our team of local energy consultants and see how much you can save with solar in Maine!
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