Cost of solar panels maine

How much do solar panels cost in Maine?

The average Maine homeowner needs a 10.15 kW solar panel system to cover their electricity needs, which comes out to $33,080 before incentives. Prices range from $28,118 to $38,042, but after the federal tax credit, that drops by 30%. While this is a lot of money, adding solar panels will help you avoid paying Maine's high electricity rates.

How much does a 5 kW solar system cost in Maine?

While a 5 kW system will only cost you $16,423 in Maine, doubling the system size effectively doubles the price, so you'll pay about twice that for a 10 kW system. The higher the price tag, though, the more you'll get back as a credit towards your federal tax bill. Are solar panels worth it in Maine?

Is it worth going solar in Maine?

For many Maine homeowners, it’s worthwhile to go solar. As in many U.S. monthly utility costs in Maine are significant at $99.44 per month for energy. However, the upfront investment for solar equipment can also be steep, so you should weigh the cost of installation against the savings you’ll experience on utility bills.

How long do solar panels last in Maine?

Most solar panels can last up to 30 years, and most solar owners in Maine pay off the cost to install their systems in a little more than eight years. After that, the panels generate electricity at no cost, putting thousands of dollars back in your pocket over time. Traditional electricity rates fluctuate with demand.

Does Maine have solar panels?

Maine may not be the sunniest state in the U.S., but that doesn’t stop Vacationland residents from reaping the benefits of home solar panel systems. In fact, Maine’s average of 100 sunny days annually helps many of its solar-generating households save thousands on energy expenses each year.

What are the benefits of going solar in Maine?

There are several benefits of going solar in Maine, ranging from financial to environmental. Most solar panels can last up to 30 years, and most solar owners in Maine pay off the cost to install their systems in a little more than eight years.