RHODE ISLAND SOLAR INCENTIVES
The State of Rhode Island offers its residents a combination of different incentives to go solar.
Learn more about the offers below!
RENEWABLE ENERGY SALES TAX
Under this exemption, the state forgoes the collection of sales tax on all renewable energy products purchased by the consumer (i.e. solar PV panels & solar thermal collectors). Thanks to this tax exemption, consumers save a good deal of capital which they can in turn put towards the purchase of a battery storage system.
Provides consumers with a tax break when they install a renewable energy system on their property.
Allows consumers with eligible renewable energy systems to receive bill credits for all power generated, based on the previous 3 years of consumption. Consumers must have a renewable energy system on their premises to qualify. National Grid, for example, will take in consumers’ excess electricity that gets produced during the day and then credit the consumer for all of that energy in the evening.
RENEWABLE ENERGY FUND
Provides homeowners with grants for renewable energy projects that have the potential to produce electricity in a cleaner, more sustainable manner while stimulating job growth in the green technology and energy sectors. The REF program is only available to Net Metering customers. Applications are accepted on a first-come, first-serve basis with rolling application due dates.
RENEWABLE ENERGY GROWTH PROGRAM
Provides customers with the opportunity to sell their solar energy production directly to National Grid at a higher compensation rate than the current cost of electricity, and receive on-bill cash credits to their utility bill. National Grid must meet certain renewable portfolio standards established by the state of RI, and thus incentivizes consumers to go solar by purchasing power directly from your installed solar system. The residential REG Program has two enrollment options, one for 15 years, and one for 20 years, depending on project size. After 15-20 years, consumers automatically shift to the Net Metering incentive.