Have you considered a solar energy project for your commercial property or land in Maine? Then you have come to the right place! Here you will find everything you need to know about Maine solar incentives, whether you are looking for a no money down solution or want to make a long term and high yield investment in your own solar energy system.
Maine solar energy is an ecofriendly and cost-effective way for businesses and landowners to lower their energy bills by locking in a reliable cost of energy. There are many commercial solar financing options in Maine. Two common no money down solutions are Power Purchase Agreements (PPAs) and lease agreements. In a PPA, Verogy is responsible for building, owning, and maintaining the solar array, while you as the property owner purchase your energy at a locked in rate. The benefits of a PPA are that you are protected from rising utility rates while powering your business with clean energy.
In a solar lease option, the property owner receives annual lease payments for hosting the solar array. Verogy builds, owns, and maintains the system in this instance as well, so your only commitment is to receive the lease payments. This option is very common for large scale ground mount arrays. It is a great way to create revenue from otherwise unused land in Maine, because it is not a permanent form of development. After the useful life of the array, the land will be returned to its original state. The potential uses for open land are endless, but there is one that shines above the rest in preserving the natural resources of the land; solar farms are unique in their ability to wed the dual preservation and monetization of underused land.
If you are interested in investing in solar energy, you will reap the rewards of a lucrative long-term investment. With the cash purchase option, you buy the array either directly or through financing. As the owner of the system, you will benefit from the Federal Tax Credit and Renewable Energy Credits the system generates. Click here to learn more about this option.
Net metering programs, also called Net Energy Billing in Maine, measure how much electricity your solar system generates versus how much your facility consumes monthly. If your facility consumes more electricity than it generates, you pay your utility provider the difference between those two amounts. If you generate more electricity than you consume, you receive a monetary credit on your electricity bill for that solar electricity generation, which can be used for prospective utility bills in the same calendar year.
Each month, many businesses in Maine wonder how to lower their electric bill. The most obvious solution is to reduce the amount of electricity the facility is using during peak hours, but this is not always a possibility. Converting to solar energy is one of the most effective ways to lower your electric bill without having to reduce your usage. Through a PPA, the rate at which you purchase your electricity will be fixed, creating a greater return each year that utility rates increase.
Take advantage of Verogy’s expertise and go solar in Maine.
There are many Maine solar power companies, but only Verogy has the experience and industry knowledge to bring your solar energy dream to a reality. We are a full-service developer, meaning we will be with you every step of the way, from project origination to construction and energization. Contact us today to get started!