In 2024, the Maine Department of Energy Resources (DOER) commissioned a study examining the financing conditions that shape large-scale clean energy development in Maine. Prepared by Banyan Infrastructure, the study highlights the investment needed to meet the state’s energy needs and underscores how reducing project development risks can lower long-term energy costs. By mapping existing financing tools, identifying gaps, and outlining the factors that influence project viability, the study provides recommendations for Maine to attract cost-effective private capital while navigating a shifting federal landscape.
The study finds that de-risking front-of-the-meter projects, specifically utility-scale investments over $5 million, as a major opportunity for Maine that would support broader economic benefits including local revenues, jobs, and grid resilience. Specific recommendations include:
- Support communities and local engagement through improved model ordinances, clear property tax guidance, streamlined permitting, new technical assistance, and early-stage funding.
- Enhance procurement and energy programs to increase competition, shorten timelines, and improve deal certainty.
- Explore new capital solutions for projects and strengthen workforce development tools.
The final report was published in November 2025 and is available to view and download here.
Stakeholder Engagement
A webinar was held on July 28 at 1pm to present key findings and gather public input. Meeting materials include slides and a summary are available on this page.
A draft of the report is available here (PDF). Public comments on the draft, available to view here (PDF), were used to inform revisions to the study and support future policy and program development.