Solar Energy Incentives

Did you know there are government incentives that help you save big with solar energy? The Sundog Solar team can help you take advantage of this great cost-saving opportunity! Sundog Solar also offers project financing for residential and small commercial solar systems.

Solar Investment Tax Credit Saves You 26%

There is a generous federal tax credit that lowers the total cost of a renewable energy system by 26%. This solar energy incentive is available for both residential and commercial solar energy installations in Maine. Grid-tiedhybrid, and off-grid photovoltaic solar systems can all qualify.

Tax credits are a dollar-for-dollar reduction in income taxes owed. Thus, they are more valuable for the taxpayer than a write-off. Eligible expenses include the cost of the solar panels, inverter, components, and labor.

Installing a solar system on your home can qualify you for the Solar Investment Tax Credit. For example, if you install a $10,000 solar system, the tax credit would reduce the installation’s total net cost by an estimated $2,600. Speak with your tax specialist to determine if you’re eligible for this solar energy incentive.

The Solar Investment Tax Credit for residential solar energy will cease at the end of 2021. As a result, now a great time to invest in a clean energy system for your home!

solar energy system cost

Get Credited for Surplus Electricity with Net Metering

Solar energy customers connected to the power grid can be credited for the surplus solar electricity they supply. This is called net metering or net energy metering. For example, many solar households generate more solar electricity than they consume on sunny days. If the system doesn’t have batteries, all this electricity goes to the power grid. This results in credits on the electric bill.

Many Sundog Solar customers pay only the monthly connection fee to the electric company. Such homes are net-zero energy. This means that the solar panels generate all the electricity the household consumes throughout the year.

Cost of a Solar System

The price of installing a solar energy system has declined significantly in recent years for homes and businesses. This is because the cost of solar panels and other components have plummeted. Meanwhile, equipment efficiency has improved, and electric rates have increased considerably. This means solar systems pay for themselves in savings faster than ever.

Your solar energy system’s price will depend on how much electricity you need, the solar equipment installed, and how the solar panels are mounted. Pole-mounted solar systems cost a bit more to install than many roof-mounted systems. When roof shading is an issue, however, it can have significantly higher power production.

Sizing Your System

The Sundog Solar team begins sizing your PV system by looking at your electric bill to determine the total amount of kilowatt-hours used. If you provide this information to one of our solar experts, we can estimate your solar system cost and potential savings. The size of your solar energy system will also be influenced by the amount of roof space, how much of your energy bills you would like to eliminate, and your project budget.

Solar Energy Savings with Net Metering

solar power systemNet Metering allows utility customers to save money by earning credits for each kilowatt-hour of electricity they produce above their monthly energy use. Energy credits are used during lower production periods and are valid for 12 months. Customers pay a minimum monthly utility charge and have access to utility power when needed. Unfortunately, solar system owners are not reimbursed for unused energy credits that expire each year. Thus, it is essential to not oversize a solar panel system.

At Sundog Solar, we understand that proper solar system size is essential. We make meticulous calculations using historical Maine weather data to ensure that you are getting the most value possible out of your solar PV system.

Thanks to strong federal incentives, there’s never been a better time to invest in a residential or commercial solar-powered system in Maine. There is a 26% federal tax credit given for the entire cost of your solar electric system!

Return on Investment

Here’s a simple ROI for a grid-tied PV system that was purchased with cash.  The typical payback period is eight to ten years, with many years of free energy after that.

Yearly Net Returns Solar Maine

Sundog Solar – Maine’s Solar Experts

With years of experience installing solar energy systems and heat pumps throughout Maine, Sundog Solar has a strong reputation for quality workmanship. We are small enough to give each job a personal touch, yet large enough to have a wealth of solar energy experience.

We are dedicated to helping Maine families and businesses from Brunswick to Augusta, Bangor, Bar Harbor, and beyond. The Sundog Solar team uses some of the most reliable solar panels and equipment on the market. Our products include SMA, SimpliPhi Power, Schneider Electric, Q Cells, Vikram Solar, LG, Solaria, and SolarEdge. We work as a team to truly serve our customers and get the job done right!

 

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