Contrary to popular belief, despite its cold and snowy winters, Maine receives ample sunlight throughout the year, making it an excellent location for solar energy. Even during the winter months, solar panels can effectively generate electricity, and modern technology ensures they perform well despite snow and storms. And did you know that there are numerous incentives available to Maine residents who choose to go solar? If you’re considering making the switch to solar energy, it’s essential to understand the available financial incentives to maximize your investment. Here’s a breakdown of the incentives and programs for Maine homeowners: 
Efficiency Maine PACE Home Energy Loan:
The Efficiency Maine PACE Home Energy Loan offers low-cost loans to Maine residents for financing solar energy systems. Benefits of this program include system ownership, no fees, and low-interest rates. This program ensures that you don’t have to worry about upfront costs and can pay down the loan over an extended period. However, please note that there are income restrictions, which may limit eligibility for some residents. For more details on income-based eligibility, you can visit the Efficiency Maine income-based eligibility page.
Maine Property Tax Exemption:
One of Maine’s most significant incentives for homeowners considering the switch to solar is the property tax exemption law. Installing solar panels for residential purposes will not increase your property taxes in Maine, ultimately saving you additional costs.
Federal Solar Tax Credit:
Under the federal Solar Investment Tax Credit (ITC), all US solar owners, regardless of the state, are eligible to apply for a tax credit of up to 30% of the total cost of their solar energy system. This credit applies to both residential and commercial systems and can significantly offset the total cost of a solar energy system. 
Maine Net Metering:
Maine’s Net Energy Billing program allows solar owners to sell any excess energy back to utility companies in exchange for energy credits. This means that homeowners can save even more money on their utility bills, as their solar energy systems can generate credits to use for power when the sun doesn’t shine. However, it is important to note that any unused credits will expire after a year, which could be a concern for some users. For more on how net metering works, check out our blog “What is Net Metering?”
Small Battery Management:
Efficiency Maine’s Small Battery Management program offers incentives to homeowners and small businesses for using small batteries to manage power during peak demand periods. Participants receive $100 per kilowatt of average discharge during demand response events, which occur up to 60 times a year on non-holiday weekdays. Eligible battery brands include Duracell, Eguana, Emporia, Enphase, Generac, SolarEdge, and Tesla. To receive the incentive, users must install an eligible device, submit an enrollment form, maintain connectivity, and accept the program’s terms and conditions.
For more details, visit Efficiency Maine.
Local Solar Rebates:
In addition to the state’s incentives, many Maine utility companies offer further rebates for installing solar panels. For instance, Central Maine Power (CMP) offers a solar rebate program that helps cover a portion of system costs, making solar energy even more appealing. For more on local rebates go here.
Conclusion:
Maine residents have several incentives available to make solar energy more financially accessible. With solar loans and tax credits, net metering, property tax exemptions, and local rebates, there is never a better time to be a solar energy system owner in Maine. We recommend consulting with a reputable solar installer like us here at New England Clean Energy Inc. to maximize the benefits of these incentives and seamlessly make the switch to solar energy. It’s a solid investment in creating a healthier environment while saving money!
If you liked this article, you may also like:
7 Compelling Reasons You Should Install Commercial Solar Power in 2024
New Ebook! Solar Energy MythBusters: Debunking Common Misconceptions
No comments yet. You should be kind and add one!
By submitting a comment you grant The Energy Miser a perpetual license to reproduce your words and name/web site in attribution. Inappropriate and irrelevant comments will be removed at an admin’s discretion. Your email is used for verification purposes only, it will never be shared.