Maine Incentives

123SolarPower is North America’s largest network of experienced solar power installation experts. With hundreds of locations across the U.S. and Canada, we offer access to the best renewable energy solutions for your home or business. Our team is committed to providing reliable sales, excellent installation service, and trustworthy consultations on solar energy systems. Everyone of our projects is custom tailored to meet your needs. Let us provide you with multiple competitive quotes for solar panel installation Maine. Together, we can save you money while reducing your carbon footprint as well. Check out our helpful blog to find out how much you can save with solar today!

Solar Power in Maine

As one of the country’s northern-most states, Maine is not considered one of the top solar generating states. However, with the continued boom in the national solar industry, and growth of available state and federal tax incentives, residential use of solar energy is projected to grow in states like Maine. In fact it is becoming increasingly affordable to go solar across the US, find out why today.

In fact, in an otherwise struggling economy, Maine’s solar industry grew in leaps and bounds through the recession. With new solar technologies, ever improving efficiency and interest in residential and commercial systems, Maine is now fertile ground for growth in solar energy use. There has never been a better time to consider solar panels Maine.

State Tax Incentives in Maine

Maine has several state tax incentives in place to encourage the use of residential solar panels Maine. The Seacoast Energy Initiative’s Energy Efficiency Loan Program offers incentives up to $15,000 for solar water heating systems. Maine’s PACE Loans apply to a wide variety of solar technologies including solar space and water heating, and photovoltaic systems, as well as other renewable energy technologies. These 15-year loans range from $6,500 to $15,000 with interest rates fixed at 4.99%.

Performance-based incentives are available through the Community Based Renewable Energy Production Incentive. Solar thermal electric and photovoltaic systems (as well as other renewable energy installations) provide up to $.10/kWh or the cost of the project, whichever is lower. Utility rebates are also available in Maine from the Bangor Hydro Electric Company and Maine Public Service Companies worth up to $600 for commercial or residential heat pump systems. Find out about all the savings available in your state, visit DsireUSA Maine for the complete list of incentives.

Federal Tax Incentives

The U.S. federal government also provides competitive tax incentives to encourage residential and commercial use of renewable energy such as solar power. The Energy Policy Act of 2005 provides a 30% investment tax credit on investments toward the installation and use of solar power systems. This credit is applicable to a number of renewable energy solutions such as photovoltaic systems, solar heating and cooling, and solar concentration technologies. The 30% investment tax credit is in place through 2016 as part of the Energy Improvement and Extension Act of 2008, so any generated credit that exceeds your income tax due carries over to next year’s tax return. With so many savings available, there has never been a better time to buy solar panels Maine.

Filing for this tax credit is as easy as filling out and including an extra form (IRS form 5695 in particular) along with your yearly tax return.

Help For All Maine Residents

When considering solar panels for sale Maine, you can turn to 123SolarPower for reliable service. With access to some of the most advanced equipment in the country and industry-leading experts, our team is ready to provide your home or business with cutting edge solar power solutions. Interested in receiving a free estimate of installation costs? Simply fill out the form above or call us at 800-294-2397 to speak with a solar power expert who can fully describe the energy and financial savings available for your project.

Frequently Asked Questions

When making any modifications to the home, questions always arise. In order to discern whether adding solar panels is a good idea for a given home, having answers to the most frequently asked questions can help. These answers can not only help a homeowner decide whether or not to install solar panels on their home, but they may also help to alleviate some fears and/or concerns that homeowners have about solar power.

Will solar panels benefit my home if I do not have constant access to the sun?

It is a myth that only sunny places like California and Hawaii can benefit from the installation of solar panels. While solar panels do generate more power in areas that have more access to the sun, there are solar panels that are capable of capitalizing on diffused solar rays. These are the kind of solar rays that fall on overcast days.

What incentives are available to me?

There are many incentives in place to help convince homeowners to install solar panels. For example there are tax credits at both the state and federal levels. While the tax credit value varies by state, to the credit ranges to upwards of 25% on installation up to $1,000. Furthermore, most solar power devices are sales tax exempt. The federal tax credit is 30% on installation with no limit. For more information about tax incentives in your state, call 800-294-2397 to speak with a solar consultant.

What is the difference between on the grid and off the grid?

On the grid refers to one still being attached to the electric grid and essentially creates a solar/electric hybrid system. Off the grid refers to relying solely on solar power as the home is completely disconnected from any electric grid.

While solar panels may be expensive to install, the long-term savings (both personally and as a member of society) really outweigh the upfront costs. Moreover, the tax breaks available (through 2016) can also help to recoup some of the costs.

Adding solar panels to your home can benefit you in many ways—including tax credits and a decrease in your electric bill. For more information, please complete the online form or call 800-294-2397.

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