If you’re thinking about solar, one of the first questions you’re probably asking is:
“How long will it take to get my money back?”
Solar Panel ROI in Maine
That’s called your solar ROI—and in Maine, it’s better than you might think.
Here’s how long it takes most homeowners to break even on their solar investment and what factors affect your return.
1. The Average Payback Period in Maine
Most solar systems in Maine pay for themselves in 6 to 9 years.
After that, the system is paid off—and you’re generating free electricity for the rest of its life (usually another 15–20+ years).
2. What Affects Your ROI Timeline?
Several factors can impact how quickly you break even:
- System size and how much energy it produces
- Your energy usage
- Electric rates from CMP or Versant
- Net metering credits (which roll forward)
- Tax credits and incentives
- Financing terms (cash vs. loan)
We walk through all of this in your custom quote.
3. Real Example: 8-Year ROI Breakdown
System Cost: $25,000
Federal Tax Credit: $7,500
Net Cost: $17,500
Annual Savings: $2,100
ROI: Just over 8 years
Savings after 25 years: Over $35,000+
4. Higher Electric Rates = Faster Payback
CMP and Versant rates have increased steadily over the past decade. The higher the rates climb, the faster your system pays for itself.
Solar protects you from future price hikes and stabilizes your monthly bills.
5. Financing Options Can Still Deliver ROI
Even if you finance your system:
- You may pay less per month than your current utility bill
- You still qualify for the 30% tax credit
- You own the system (no leases or third parties)
This means you’re still building equity—and getting your money back.
6. Solar Adds Property Value Too
In addition to utility savings, solar can:
- Boost your home’s resale value
- Make your home more attractive to buyers
- Sell your home faster (especially when paired with a new roof)
It’s one of the only upgrades that pays you back monthly and increases your equity.
7. Commercial ROI Is Even Faster
Businesses can:
- Write off the system using MACRS depreciation
- Take the 30% ITC
- Reduce operating expenses
- Improve their sustainability profile
Commercial systems often break even in 5–7 years.
Want to see your personal solar payback timeline?