Renewable Portfolio Standards
There has never been a better time for Maine residents to go solar, as there are very strong Renewable Portfolio Standards! With a mandate that 40% of all the state’s energy must come from a renewable energy source, now is the time for homeowners to explore regional solar power incentives.
Sky-high electric rates make solar panel systems even more attractive to potential buyers. Ranked as number 10 out of the 50 states when it comes to costly energy bills, it’s easy to see why so many homeowners are ready to learn how they can save on their electric bill.
The Interconnection Standards of Maine
Maine has very strong interconnection standards. What does that mean for those interested in solar panels? Set, transparent processes that offer less risk for those investing in a renewable energy source, and safer deployment of said system. In fact, if you install a system that is under 10 kW, you may qualify for an application process that only costs $50!
Federal Tax Credit
In addition to the above Maine solar incentive and rebate opportunities, you may also qualify for the solar Investment Tax Credit! This credit allows those who have purchased their solar system (either with cash or a loan) to deduct 26% of the cost of installing the system from their Federal taxes. That percentage will start to decline as the years go on, so time is of the essence!