Rhode Island Solar Incentives 2024: Rebates, Tax Credits, and Grants
Updated August 27, 2024 | 7 min read
Rhode Island has a variety of solar incentives in place to encourage residents and businesses to install solar panels on their property.
These incentives, which include tax credits, rebates, and grants, can help offset the cost of solar installation and make it more affordable for Rhode Islanders to go solar.
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Rhode Island Renewable Energy Fund (REF) Rebate Program
One of the main incentives available in Rhode Island is the Renewable Energy Fund (REF) Rebate Program. This program, which is run by the Rhode Island Office of Energy Resources, offers rebates to residents and businesses that install solar panels on their property.
The amount of the rebate is based on the size of the solar installation and the type of system installed. For example, a residential solar installation can receive a rebate of up to $1,500, while a commercial installation can receive a rebate of up to $75,000.
RI Renewable Energy Growth Program (REG)
Another incentive available in Rhode Island is the Renewable Energy Growth Program (REG).
This program, which is also run by the Rhode Island Office of Energy Resources, provides grants to residents and businesses that install solar panels on their property. The amount of the grant is based on the size of the solar installation and the type of system installed.
For example, a residential solar installation can receive a grant of up to $1,000, while a commercial installation can receive a grant of up to $50,000.
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Rhode Island Renewable Energy Tax Credit
In addition to these incentives, Rhode Island also has a number of tax credits available for residents and businesses that install solar panels on their property. For example, the Rhode Island Renewable Energy Tax Credit allows residents and businesses to claim a credit of up to 25% of the cost of their solar installation, up to a maximum credit of $1,500 for residential installations and $100,000 for commercial installations.
Rhode Island Net Metering Program
Finally, Rhode Island also has a net metering program in place, which allows residents and businesses with solar panels to sell excess electricity back to the grid. This can help offset the cost of electricity for residents and businesses with solar panels, and can also help to increase the overall amount of solar energy on the grid.
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Get Started With Solar In Rhode Island Today!
Overall, Rhode Island has a variety of solar incentives in place to encourage residents and businesses to install solar panels on their property. These incentives, which include rebates, grants, tax credits, and net metering, can help offset the cost of solar installation and make it more affordable for Rhode Islanders to go solar.
With these incentives, Rhode Island is taking a big step to promote clean energy, and this could prove to be beneficial for the environment and the economy.
It's worth noting that the incentives are subject to change and the availability of funding, it's recommended to check with the authorities and the program websites for the most up-to-date information and details of the terms and conditions of the programs.
Verdict
Overall, Rhode Island is a great state for solar power, with a variety of incentives and programs in place to encourage residents and businesses to install solar panels on their property. These incentives can help offset the cost of solar installation and make it more affordable for Rhode Islanders to go solar, while also helping to promote clean energy and protect the environment.
If you are a Rhode Island resident or business owner considering solar power, be sure to check out the incentives and programs available to you and see how you can take advantage of them to save money and reduce your carbon footprint.
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