High electricity rates make Maine solar attractive despite limited sun hours and higher installation costs in northern New England.
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Maine's solar economics benefit from high electricity rates: With 22¢/kWh electricity rates offsetting modest 3.8 daily peak sun hours, solar delivers reasonable returns in the Pine Tree State. Central Maine Power serves much of the state with net metering available.
For Portland and Bangor residents, solar systems typically pay for themselves in 8-10 years. High electricity costs from imported energy make solar compelling despite northern latitude challenges.
| Incentive | Amount | Status |
|---|---|---|
| Federal ITC | 30% of system cost | Active |
| Central Maine Power Net Metering | Full retail rate | Active |
| Property Tax Exemption | Not available | None |
| Sales Tax Exemption | Not available | None |
| System size | Gross cost | After ITC | Annual savings | Payback |
|---|---|---|---|---|
| 6 kW | $19,200 | $13,440 | ~$1,500/yr | ~9.0 years |
| 8 kW | $25,600 | $17,920 | ~$2,000/yr | ~9.0 years |