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Lower your electric bill, increase your property value, reduce your tax liability, and help the environment.
Sky-high electric rates make solar panel systems even more attractive to potential buyers. Ranked as number 10 out of the 50 states when it comes to costly energy bills, it’s easy to see why so many homeowners are ready to learn how they can save on their electric bill.
Net metering is a framework of regulations that let residential producers of solar power sell their excess to the utility, often at the same rate they buy electricity. This allows homeowners to use the grid as a virtual battery, drawing from the grid when they need to and supplying the grid when they have excess. Maine has great net metering laws.
Maine has very strong interconnection standards. What does that mean for those interested in solar panels? Set, transparent processes that offer less risk for those investing in a renewable energy source, and safer deployment of said system. In fact, if you install a system that is under 10 kW, you may qualify for an application process that only costs $50!
In addition to the above Maine solar incentive and rebate opportunities, you may also qualify for the solar Investment Tax Credit! This credit allows those who have purchased their solar system (either with cash or a loan) to deduct 26% of the cost of installing the system from their Federal taxes. That percentage will start to decline as the years go on, so time is of the essence!
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