Maine Solar Panel Credit

Community solar in maine.

Maine solar panel credit.

This applies to both residential and commercial solar pv systems. Don t worry that much though. Maine solar power performance payments performance based incentives maine does not offer solar power performance payments also know as production incentives. Here s how it works.

Contact our team for a free solar assessment. This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt. This credit is a dollar for dollar tax credit and will reduce the amount of tax owed by the system owner before any deductions are applied. You can claim the credit for your primary residence vacation home and for either an existing structure or new construction.

Maine lacks any tax credits for solar power. Maine state energy tax credits. We think the legislature can do more by offering you a personal tax credit to help offset the cost of switching to solar power. Maine has also passed laws to encourage the piloting of community shared solar a model that would allow mainers to buy into larger shared solar installations.

As a credit you take the amount directly off your tax payment rather than as a deduction from your taxable income. There is still the big beautiful federal tax credit to help ease your transition to solar. In maine you can get a pace loan for up to 15 000 for 15 years at a 4 99 interest rate. While all specifics are still being hammered out keep your eyes peeled for the option to go solar without actually having to put any panels on your own roof.

Maine does not offer state solar tax credits. Batteries that are connected to a solar array and recharged by solar also qualify for this credit per an irs letter released in 2018 https www irs gov pub irs wd 201809003 pdf. Solar electric systems qualify for a 26 federal tax credit in 2020.