If you feel like your Central Maine Power (CMP) bill is climbing no matter what you do, you’re not wrong. CMP has filed a plan for a rate hike in 2026 that could increase bills by 14% in 2026 — and then another 4% per year for the following four years. That adds up to nearly a 30% increase over five years.

For Mainers already feeling the pinch of higher costs and bills across the board, this is frustrating news. Many Mainers are asking the same questions: Why do electricity costs keep going up — and what can I do about it?

Why are electric bills going up in Maine?

Electric companies like CMP deliver the same electricity day after day — but the cost you pay keeps going up. Here’s why:

• Utility profits & rate requests. Electric companies regularly file for rate increases to cover revenue losses or infrastructure costs.
• Weather & storm costs. Damage to power lines and grid infrastructure gets passed on to customers.
• Inflation & global events. Labor shortages, supply chain issues, and fuel costs all trickle down to your bill.

The bottom line? You can’t control your electric company’s decision, but you can control your own power.

How does solar help Maine homeowners save money every month?

When you own your own solar electric system, you generate your own power, allowing you to take control of your energy costs for the long lifetime of your system. When you switch to solar, you will:

• Lock in your rate. Once your system is installed, your cost is fixed immediately — and protected for 30+ years — no matter how often electric companies like CMP raise their rates.
• Build credits with net metering. Any extra energy your panels deliver earns credits you can use during cloudy days or winter months.
• Enjoy stable bills. Most solar households cut their electric bill down to the flat monthly service fee (currently about $27).

Put simply: if electricity costs 14% more in 2026, that’s 14% more you’ll be saving if you go solar. 

Average Maine homeowner savings with solar

It’s one thing to talk about percentages and rate hikes — but what does that actually mean for your household budget? The average Maine household uses 7,500–8,000 kWh of electricity each year. For homes with heat pumps, that number often rises to 10,000–15,000 kWh.

Let’s look at a real-world example using a home that consumes 9,865 kWh annually: 

• Today’s costs: That level of usage equals a CMP bill of about $212 per month (before the latest rate hike).
• With solar: A properly sized system could reduce that bill to CMP’s flat $27 monthly service fee.
• Long-term impact: Over 30 years, that adds up to more than $108,400 in avoided electricity costs — before accounting for future rate hikes. 

Solar doesn’t just cut your bill — it protects your budget and brings predictability back to your monthly expenses.

How quickly solar pays for itself in Maine

Solar has always been a smart investment, but CMP’s proposed hikes make it even stronger. Payback timelines that used to average 10–15 years after this rate hike will drop to just 8–12 years. 

That means your system will pay for itself in a shorter window of time and start generating “free” power faster — and you’ll enjoy the peace of mind of stable, predictable costs for decades.

Here’s what that looks like:

• Faster return on investment. CMP rate hikes shorten the time it takes to pay off your solar system.
• More lifetime savings. With our solar systems warrantied for 30 years, you’ll generate decades of free electricity.
• Tens of thousands of dollars back in your pocket.

While electric rates keep climbing, your solar payment won’t.

Flexible Financing: Owning solar with no big upfront cost

Many Mainers are surprised to learn they don’t need to pay for solar all at once. With $0-down financing options, you can still install a solar electric system that you own – and start lowering your electric bill right away – without a large upfront investment. Instead of paying ever-increasing electric bills with no return, your monthly loan payment builds equity in your solar system. Once it’s paid off, your system will continue generating clean, free power for decades. 

Here’s how it works:  

• Fixed monthly payments. Unlike CMP’s rising bills, solar financing is predictable. Financing the purchase of a solar electric system allows you to fix your cost of electricity for the lifetime of your loan. Over the long lifetime of your system, you’ll be protected from rising rates. 
• Predictable Bill. In many cases, your solar loan payment + CMP’s service fee is close to or less than what you already pay CMP. 
• Keep your savings. Financing helps you protect your budget & savings while still reaping long-term savings from solar, while still owning your own system. 

If you’re interested in financing your solar system, we’ll review options with you and connect you with a trustworthy, straightforward, and socially responsible lender.

Other benefits of solar in Maine

The financial savings are only part of the story. Solar also delivers long-term value for your home, your independence, and even Maine’s environment. Here are a few more reasons why so many Mainers are making the switch:

Boost Your Home’s Value with Solar

Solar is one of the only home improvements that pays for itself and increases resale value. According to Zillow, homes with solar sell for an average of 4.1% more than comparable homes without it.

Energy Independence & Resilience

Solar reduces your reliance on CMP — and when paired with a battery, it also provides backup power during outages. That’s peace of mind during Maine’s stormy seasons.

Power Your Heat Pumps and EVs with Solar

Many Mainers are adding heat pumps and electric vehicles. While these are smart, sustainable choices, they can raise your electric bill. Solar ensures you can run your home — and charge your car — affordably.

Environmental Benefits of Solar

Every kilowatt-hour you generate is one less that electric companies have to deliver from fossil-fueled sources. That means a cleaner, more sustainable future for Maine.

Get Started With Solar in Maine

Maine Solar Solutions has been helping Mainers cut their electric bills for over 13 years. As a local, Maine-based solar installer, we offer:

• Custom system design tailored to your home, energy usage, and goals. 
• 30-year warranty — the longest in Maine, giving you confidence your investment is protected for decades
• Flexible Financing options that make solar accessible without a large upfront cost
• An in-house team of professionals who take pride in every job — because this isn’t just where we work, it’s where we live, too.

You can’t control CMP’s rate hikes — but you can take control of your own power. At Maine Solar Solutions, we’re committed to giving you the information, transparency, and guidance you need to make the best choice for your home — with no pressure.

Schedule your free site assessment or call (207) 871-7191 to start lowering your electric bill.