Solar systems in Maine
Get solar panels for your home and start owning your electricity!
With a home solar system, you can reduce your carbon footprint and protect your home from rising energy prices!
Adding a rooftop or ground mount solar system to your property in Maine will boost its value and give you full ownership over your electricity production, saving you thousands with solar over 25 to 35 years!
Did you know – in some states, you can get paid for your solar energy through SRECs!
Rooftop Solar in Maine
Electric prices are highly unstable in Maine due to the fluctuating price of natural gas. The uncertainty and risk surrounding natural gas prices is transferred to consumers from electric suppliers in the form of higher prices. But rooftop solar can shield you from these hikes and help you put money back in your pocket!
The following incentives are the exact reasons why going solar is the right choice for homeowners in Maine:
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Net Energy Billing
Under traditional net metering, every kilowatt-hour of excess energy you contribute to the grid earns you valuable credits.
However, Maine now offers a Net Energy Billing program with a kWh Credit option for residential solar owners. This option credits you for excess energy you send to the grid, with kilowatt-hour credits that help offset the supply portion of your electric bill.
It also offers a Tariff Rate option that provides dollar credits at a fixed rate for your unused solar energy. This is applicable to Maine businesses that decide to go solar.
Even though this program does not compensate you for the full retail value of the energy you send back to the grid (as is the case with net metering), it is still a huge benefit to solar owners since it will still help reduce your electric charges.
To learn more about the difference between net metering and net billing, check out our blog article: Net Billing vs Net Metering: Which is Better.
30% Federal Tax Credit
This generous tax credit lets you claim 30 percent off your system’s cost, helping you lower your federal income tax return for the year. For example, if your system costs $20,000, you could receive a tax credit of $6,000. Please note that this tax credit may be phased out after 2025 if the Senate decides to discontinue it!
Maine Solar For All Proposal
On April 22, 2024 Maine’s proposal for a $62 million renewable energy grant was picked by the U.S Environmental Protection Agency. This program is still ongoing and not yet publicly available but it would provide financial and technical support to help low-income households in Maine get access to solar and energy storage solutions. You can learn more here.
Other Local Incentives
Property tax exemption is also available to homeowners in Maine who decide to go solar.
Solar panels make your home more energy-efficient which helps to boost its value. Under the tax exemption however, you are exempt from paying any property tax on the value added to your home from your solar panels.
Equipment Warranties
Warranties for panels typically cover 25 years and come with power performance warranties! Inverters come with 15-25 year warranties, and our installers guarantee their work and provide roof penetration warranties of 5-10 years.
If you choose a lease agreement versus a purchase agreement, everything is guaranteed for the lifetime of the 25 year lease, including maintenance, insurance and performance (at the cost of lower lifetime savings).
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Learn more about Finray Solar — WHO we are, WHAT we do, and WHY.
Or, feel free to Contact Us to ASK A QUESTION. We look forward to speaking with you. And we are excited to help you connect your home to a discounted clean source of electricity!