Local Option – Property Assessed Clean Energy
Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for energy improvements. The amount borrowed is typically repaid via a special assessment on the property over a period of years. In participating municipalities, homeowners can get PACE loans with a fixed interest rate of 4.99% and a term of up to 15 years, with the amount ranging from $6,500 to $15,000.
Solar and Wind Energy Property Tax Exemption
Maine offers a property tax exemption for solar and wind energy equipment generating heat or electricity, as long as all of the energy is (1) used on-site where the property is located or (2) transmitted through the facilities of a transmission and distribution utility, and a customer or customers receive a bill credit for the energy produced.