cost of solar panels in maine

Your Guide to Solar Loans (Rates, Terms, Outlook), New Orleans Solar Panels: Why Solar Energy Is Now Super Cheap in New Orleans, St. Louis Residential Solar Panel Analysis Is It Worth It? Combining an electric vehicle with a solar electric system in your home allows you to fix the cost of operating your electric car and truly enables you to operate your EV as a carbon-free, renewable energy vehicle. However, because residents of Maine use so little electricity, overall costs are relatively low. Maine has one of the more aggressive RPS strategies in the country.

Grid-tied systems are the less expensive option, due to not needing batteries and other additional equipment. However, the rates per kWh are relatively high, and residents pay on average 14.66 cents per kWh, which is 10th in the US, or nearly 24% greater than the national average of 11.88 cents.

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Zip Code* Even if you arent quite ready for batteries during your initial solar install, your solar electric system can be designed to allow for the easy addition of batteries at a later date.Electric Vehicle (EV) Chargers:With the growing popularity of electric cars, many of our solar customers are requesting the installation of anelectric car charging stationat their homes. To determine this, we must determine how long it will take for you to break even. Maine boasts a host of glorious natural resources, but did you know perhaps the most valuable one shines brightly in the sky? Keeping this in mind, how much does an average solar panel installation in the state of Maine cost? Factoring the 30% federal tax exemption, which can be split over two years if you dont owe that much, and the initial upfront costs weigh in at less than $14,000. The purpose is to encourage utility companies to supplement their non-renewable provisions with ones that are better for the planet. Once the system has paid for itself, a typical Maine solar system owner will only have to pay their fixed utility service charge currently around $15 per month. But sometimes aesthetic concerns or heavily shaded roofs make consideration of a ground-mounted solar array advisable. 531 kilowatt-hours is 91.8% of the 531 kilowatt-hours that residents use per month. By pairing a grid-tied solar electric system with battery backup, you can bank the energy you produce for times when you need it, like when the grid goes down. Maine solar energy is the most cost-effective way for homes, businesses, and municipalities to lower their energy bills and lock in a reliable cost of energy from an endless resource: the sun. Below is the information that we gather that helps us get you a fixed-cost system price. If the grid has an outage you could still power your home with your solar system. The solar credits you earn can be used against future power consumption from the grid.

Maine Solar Solutions has a design and installation team experienced with off-grid solar systems if you would like to learn more. Recent pushes to develop Maines solar industry and expand installations resulted in numerous incentive programs that make going solar in Maine more cost efficient and beneficial than ever before! It may not seem it in the midst of a Noreaster, but Maine actually receives quite an incredible amount of solar energy each year in fact, a full 33% more sunshine than Germany, the world leader in solar energy adoption. Once your system is designed and you have chosen which solar panels and optional add-ons you would like to include in your system, we prepare a fixed cost installation contract that includes all of the equipment and labor required to install a safe, code-compliant system. Schedule an informative, free, no-obligation solar consultation with one of our knowledgeable solar consultants today and begin your path towards energy independence. There are many reason people decide to invest in solar, but here are the most common factors people think about before buying into solar. The average home in Maine uses between 8,000 kWh and 12,000 kWh of electricity per year. 30% off of the initial cost is about $2,440, so that brings the initial cost down to around $5,560. Therefore, installing your system before the end of 2022 is recommended. The following three sections will help clear up which one is most fitting for your budget and long term considerations. For an investment that cost nothing upfront, this is a huge win! Thinking about switching to solar? The expense of ground anchors, racking and trenching accounts for this higher cost. Like buying a larger installation, the savings would be enough to do it all again after 25 years. So, as you can tell, a 5kW solar system doesnt quite meet your monthly energy requirements. if(zip==""){ Cost should not be the only factor when choosing a solar installation company. Mainers going solar have a few options, the most popular is a grid-tied solar electric array. You can heat your home with electricity, which can be provided by solar. '> After three years of use, solar systems are completely carbon neutral and remain so for the duration of their lifespan. Your fixed monthly payments may at first be higher than your monthly electric bill, but over time as electricity rates go up, your monthly payments will stay the same.

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Keep in mind that solar electric systems are installed to meet the requirements of the National Electric Code and as such need to be installed by licensed electricians and qualified technicians under their supervision. Solar Loans: Financing the purchase of a solar electric system allows you to fix your cost of electricity for the lifetime of your loan. This is somewhat diminished by a complete lack of tax credits or rebates provided by the state, but the Houses actions seem to indicate that will change in the future. The average system costs noted above are for a grid-tied, roof-mounted solar electric system. This allows you to store electricity and use it when you need it. Factor in the $1,000 or more in savings over the last ten years of the systems life, and you end up with a nice return of over $10,000 in savings over the systems life.

The estimated $930 savings off the first year brings that number down to about $13,000. The most popular battery backup system is the Telsa Powerwall. The best way to heat a home using electricity is with an air source heat pump (also called a mini-split). This equates to yearly savings of $859.25. Of course, one of the best ways to power a house is with solar energy, which is environmentally friendly and cost-effective. Maine Solar Incentives, Programs & Pricing. So lets move on and figure out how much electricity those solar panels can produce. They offer loans to residents for energy efficiency upgrades. Our experienced solar consultants can show you the relative costs of both options and help you determine what makes the most sense. Because of Maines high electricity costs, the annual savings are a bit higher than most other states. Learn how solar panels work and if they make financial sense for your home. So as you can see, based on the break-even period, its more cost-effective for a resident of Maine to get a 5kW system than a 6kW system. Curious to see what a solar electric system would cost for your home? No one has the ability to predict future rates, but most market indicators do not expect rates to decline significantly in the short term and it is possible that rates may continue to rise. Although whole-house backup is achievable, most grid-tied battery backup systems are designed to power critical electrical loads only. Installing a grid-tied solar electric system is a great step towards energy independence, however, during a power outage, your system does not provide power. In 2014, its governor vetoed a bill to promote community-based solar projects in the state. In addition to net-metering, homeowners and businesses can take advantage of the federal solar Investment Tax Credit (ITC). Most customers choose between paying upfront for their solar electric system or financing the purchase and paying a monthly payment. A properly sized and designed solar electric system can eliminate nearly your entire annual electric bill. return false; Most of the systems we design will meet close to 100% of a homes needs in a given year. Solar for Low-Moderate Income Communities, JEDI Justice, Equity, Diversity, Inclusion. Compare your energy usage with other similar homes in your area. Most battery systems are eligible for the federal tax credit. Our climate may be cold, but cold is actually good for solar panels. This is the most viable option for people who dont have thousands of dollars on hand. Energy pricing has risen significantly over the past several months. A smaller installation may be the way for those who dont have the funds on hand to finance a larger one. The right choice will depend on your financial situation and the costs of your system and other factors. After about 15 years, the loan is paid off and youll start to see the same returns as someone who bought the system outright. Fill out this form below, or take a look at our guide to going solar if you are interested in learning more. Net Metering allows the electricity generated by your solar system to offset the electricity used from the grid during the night or on cloudy. First, assume the cost of a new installation is around $20,000, as indicated in the graph above. The result? Facebook Instagram LinkedIn Twitter. A heating system that can run on sunshine for the equivalent of$0.89/gallon for heating oil! After the loan is paid off, all that money goes into your pocket, and the system can earn up to $7,000 over the remaining 11-12 years of your systems life cycle.
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We're a Certified B Corp, and consistently rated Top 10 Solar Installers in the Northeast. This would mean you save $936 per year or 100% of your yearly energy costs. We promise to never do creepy things with your data. In the winter, you will tend to needmore power than you produce and so youll consume those solar credits. This method has the highest upfront costs, but the profits from saving over its lifetime could be enough to purchase an entirely new system when it gives out. As always, we continue to monitor the market every day to help you find the best rates available. You are still connected to your utility provider (often referred to as the grid), so you still also have power when sunlight is unavailable. Observe the graph above, which is based on an $8,000 solar system that produces 2 kilowatts of energy compared to the above systems 5 kilowatts. var errordiv = form_e.parentNode.parentNode.querySelector('div[class="error"]'); Observe the graph below: The above illustrates the costs and benefits of three methods of purchases over the 25-year life cycle of a solar panel installation. To help you determine the best option for you you can use this solar calculator that will weigh different solar options and other renewable energy options. is_redirect && ! Move this pin to where youd like your solar to go! At the end of the year, you should be at or close to zero credits in the solar bank, a situation we call net-zero(not to be confused with off-grid, which means not using the utility grid at all!). First, we need to know how much electricity you use and its cost. That is about 27.1% less than the national average, $107 per month. For example, in June your solar panels generate 1,000 kilowatt-hours of energy but you only use 800 kWh you would receive a bill credit for the excess energy you put into the grid. From initial consult, through installation, with ongoing support and consultation, choose a company with a proven track record. return false; That said, you probably want to know whether investing in solar in Maine is worth it. If youre curious about batteries, your solar consultant will review options with you. Unfortunately, Maine does not have other incentives or rebates in place. Based on this, the payback time would be approximately 13.61 years.
Once the 26% tax credit is factored in, the net purchase price would range between $14,800 and $20,720. Grid-tied, rooftop solar systems are by far our most common type of solar electric system installed throughout Maine. The Houses stance in opposition to the governors policy regarding renewable energy may be negative for his future re-election campaigns, but its a good sign for those looking to take advantage of the solar panel market. $(errordiv).show(); See which smart devices such as smart thermostats and tankless water heaters can reduce your energy bills. When shopping for solar panels you should consider getting multiple quotes from various installers. The primary incentive available to homeowners installing solar in Maine is the Federal Solar Tax Credit (ITC). Remember that this is based on 3.25 hours of peak sunlight. This equates to just $936 per year. A resident of Maine pays an average of $78 per month for their electricity bill. This 26% rebate will last until the end of the year 2022. $(errordiv).html("*zipcode should only be 5 digits"); After the system pays for itself after 14 years, the per-year savings based on the expected increase in electric cost of about 3.5%, youre looking at $18-20,000 in returns. For example, a 10kW system will cost more in total than a 4kW system, but on a per-watt basis, the more extensive system is, the more cost-effective. There are two common types of solar panel installations for grid-tied solar systems: roof mounted and ground mounted. This guide discusses the pros and cons of different solar panel purchasing options. Ground-mounted solar arrays typically cost between 15 25% more than rooftop solar arrays. The average installation size is 5kW, so this is what we will be working with.
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  Based on these figures, the payback time for a 5kW solar system in Maine is 12.96 years.