14 Best Solar Companies in Maine, IL (Oct 2022 Review)

The Cost and Benefits of Solar in Maine

For most homeowners, whether or not you should invest in a solar energy system boils down to the cost. Some significant things that influence the cost and possible savings include:

• The cost of energy for you: If your local electricity rates are high, there's a good chance you'll get a higher return on your investment in solar panels. In Maine, you can save an average of $75 a month on your electricity bills.
• Choice of solar panels: The kind of solar panels you want will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also save you more money over the lifetime of your system. If you don't need to maximize efficiency, you can go with a higher number of more affordable panels.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your overall installation cost, your state or local government may offer additional tax exemptions, credits or rebates that can help you save even more. Excluding incentives, you can save an average of $13,000 over 20 years with your solar system, too.
• The amount of sunlight your rooftop gets: Because of Maine's high amount of average daily sunlight, you should be able to save a decent amount on your power bills.

So are solar panels worth it? Whether you hope to lower your energy bills, carbon emissions or both, solar panels are a good investment for many Maine homeowners.

Solar Incentives in Maine

One of the benefits of installing a solar panel system is earning government incentives. You can qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your solar panels. You can also possibly stack the ITC with other local incentives. Check out the table below to see what incentives you can benefit from.

Environmental Impact of Switching to Solar in Maine

Going solar can have a beneficial impact on the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Maine, though. Adopting solar power is an impactful choice for the environment, because the biggest source of greenhouse gas emissions in the nation is from burning fossil fuels for electricity, heat, and transportation — all of which can be powered by solar instead. Because solar panels don't release CO2 emissions into the atmosphere when producing electricity, they're a good swap for traditional energy sources. In fact, you could look forward to lowering your carbon dioxide emissions by about 90 pounds each year. Since energy from the sun is abundant and generates electricity without CO2 emissions, installing solar panels is one easy step you can take to help preserve the planet.