While not one of the highest ranking states, solar is slowly but steadily on the rise in Rhode Island, with over 275 megawatts installed as of 2019.* Federal and state incentives have made it easier and more affordable for residents to transition to solar in recent years, so it’s time to spread the word!
Start lowering your monthly expenses and then refer your friends, family and neighbors to receive rewards. Bring more solar to Rhode Island!
*2019 Q4 statistic
Incentives, Rebates, & Tax Credits Available in Rhode Island
The ITC is a driving force behind increased solar adoption in the United States. Since its implementation in 2006, solar installation has grown by over 1600% with an average annual growth rate of 76%.
The tax credit is available for purchased solar systems is worth 26% of the cost of the system, which is paid back to the homeowner and determined by the amount of the individual’s taxable income that year. There is no value cap on the credit and it can be rolled over for 10 years, but time is of the essence ─ the legislation is set to expire for residential solar systems by 2021.
Net metering is a utility billing system the will credit homeowners for any excess electricity that their solar system produces. The excess power is sent back into the grid for community use through a bidirectional meter. The credits provided are meant to supplement the homeowner’s energy use at night or when it’s cloudy when the system isn’t producing as much.
If you purchase your solar system, your property taxes will not increase even though your panels increase the value of your home. You will also be exempt from paying any sales tax on the purchased system.