Federal Solar Incentives
Homeowners: 30% uncapped federal tax credit on total system installed cost for solar electricity and solar thermal. No incentive for heat pumps. Expires Dec 31, 2021.
Businesses: 30% uncapped federal investment tax credit on total system installed cost for solar electricity and solar thermal. No incentive for heat pumps. Expires Dec 31, 2021.
Businesses: Accelerated depreciation available for solar investments.
Rural agricultural businesses: May apply for a USDA REAP grant up to 25% of a project’s budget (depending on size).
State Solar Rebates
Maine: No state programs for solar energy.
Residential PV: $0.75/watt up to *$3,750
Residential Solar Hot Water: Average benefit of $1,500 (based on system size)
Commercial solar projects: Up to $50,000 or 25% system cost, whichever is less
Residential PV: State income tax credit of $1,000, SRECs (renewable energy credits) available as an income stream
Residential Solar Hot Water: State income tax credit and state rebate
Commercial PV: SRECs available as an income stream
Learn More About Solar Rebates
If you’re looking for something to send to your accountant or tax advisor, see DSIRE (Database of State Incentives for Renewables & Efficiency) which has in-depth information and IRS documents for each of the programs mentioned above.