How much does it cost to go solar in Maine in 2024?

The average cost for solar panels in Maine is $2.62/W per watt.That means a typical 5kWh system will run you about $13,100 for the equipment and installation. But that’s just an average. The actual price will depend on different variables. Your total system cost can be anywhere from $11,135 to $15,065. Tax incentives can help you bring that price down by another 30% or more.

Factors that affect solar panel cost

System size is the biggest factor that will impact your solar panel cost. Bigger systems cost more overall but have a lower cost per watt.

So while a 5kWh system will cost you about $13,100 in Maine, you can expect to pay more for a 10kWh system but not necessarily double. You can also expect to get a bigger payback when you claim your 30% Federal ITC.

That means a $15,000 system will cost around $10,500 after your 30 percent credit, netting your $4,500 in total savings

But a $25,000 system will cost around $17,500 after your 30 percent credit, netting you $7,500 in total savings.

So how big a system will you need? A simple way to calculate that is to base it on your average monthly expenses. You can use the table below to estimate your system size and total solar costs.

How to save money when going solar in Maine

The cost of going solar in Maine can be intimidating but there are ways to save money. Federal and local incentives can help you save thousands of dollars. You also want to shop around local installers to make sure you are getting the best deal.

Federal and local incentives

If you meet the criteria, you can use the Federal ITC to save thousands on the cost of going solar in Maine. This tax credit will provide you with a 30 percent rebate on the total cost of equipment and installation.

You can also look into state and local incentives in your area. Consult with your installer for more details about solar tax incentives in Maine

Shop for multiple quotes

Different installers will have different rates. We recommend shopping around and getting multiple quotes from solar panel installers in Maine. It might be a red flag if one installer is suspiciously high or suspiciously low. But keep in mind that price is not the only consideration. You should also consider their track record and if they are easy to work with.

Avoid private contractors that you find in the yellow pages or directories like Angie's list. They may be cheaper but there is a lot of risk involved. These installers end up damaging your roof or going out of business without notice.

DIY solar installation is also not recommended. It’s tempting to save money by doing the work yourself, but this is a job best left to professionals. You may risk injuring yourself or causing expensive damage.

Is going solar worth it in Maine?

Homeowners can save thousands on energy costs by installing solar panels in Maine. Factors such as electricity costs, available incentives, and solar panel efficiency can impact your total savings.

You also want to consider whether you pay cash or finance your solar panels. Financing means you will have to pay interest rates. This can also impact your total savings.

You can use the table below to estimate your total savings by going solar in Maine.

The most important thing to remember is that solar panels are a long-term investment. This is a purchase that will last you approximately 25 years. You need to be thinking on those terms to determine if going solar is worth it for you in Maine.

You can use our Solar Cost Calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.