Solar Panels Maine Cost

Maine lacks any tax credits for solar power.

Solar panels maine cost.

Regardless of the exact cost of installation there are many affordable financial options for solar panel systems. The most recent official data from the doe funded lawrence berkeley labs published in september 2019 found that the median cost of residential solar panels is 3 70 watt. In addition to the maine specific solar programs you can reduce the cost of your solar energy system by 26 percent through this credit on your income taxes. This is higher than the average price of residential solar power systems across the united states which is currently 2 55 per watt.

Solar panel cost in maine. We think the legislature can do more by offering you a personal tax credit to help offset the cost of switching to solar power. As of september 2020 the average solar panel cost in maine is 2 96 w given a solar panel system size of 5 kilowatts kw an average solar installation in maine ranges in cost from 12 580 to 17 020 with the average gross price for solar in maine coming in at 14 800 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net price. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house.

Average solar panel cost. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. In maine the average solar payback period is 11 67 years. As of sep 2020 the average cost of solar panels in maine is 2 87 per watt making a typical 6000 watt 6 kw solar system 12 756 after claiming the 26 federal solar tax credit now available.

This is 2 87 per watt. A solar payback periodis the amount of time it takes for property owners who install solar panels to recover their initial investment through electricity savings. We provide practical cost effective solar solutions for our clients. Don t worry that much though.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. The average cost for an installed residential solar system in maine is currently 12 756 after claiming the 26 federal solar tax credit. However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 53 per watt. The itc applies only to those who buy their system with cash or with a solar loan like pace and you must have enough income for the tax credit to be relevant.

Maine solar solutions is committed to customer satisfaction. National data september 2020.