Solar Panel Savings in Maine
Maine gets 4 peak sun hours per day with electricity at 22¢/kWh. See how much you can save with solar panels.
Solar Panel Cost & Savings by System Size in Maine
| System Size | Gross Cost | After Credits | Payback | 25-Year Savings | Annual kWh |
|---|---|---|---|---|---|
| 6 kW | $18,000 | $12,600 | 8.5 yrs | $34,597 | 8,760 |
| 8 kW | $24,000 | $16,800 | 10.9 yrs | $31,326 | 11,680 |
| 10 kW | $30,000 | $21,000 | 13.2 yrs | $27,126 | 14,600 |
| 12 kW | $36,000 | $25,200 | 15.3 yrs | $22,926 | 17,520 |
Includes 30% federal ITC + 0% Maine state credit. Assumes 3% annual electricity rate increase and 0.5% panel degradation.
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Is Solar Worth It in Maine?
Maine averages 4 peak sun hours per day, which means an 8 kW solar system would produce approximately 11,680 kWh per year. At the state's average electricity rate of 22¢/kWh, that translates to significant annual savings on your electric bill.
With the federal 30% Investment Tax Credit and Maine's 0% state incentive, an 8 kW system costing $24,000 drops to just $16,800 after credits — with a payback period of approximately 10.9 years.
Over 25 years, homeowners in Maine can expect to save $31,326 with an 8 kW system, factoring in panel degradation and rising electricity costs. The combination of solid sun exposure and federal incentives makes solar a solid investment in Maine.