Small State with BIG Incentives
Find out how much you can save with the solar incentives and programs in our home state, Rhode Island.
$1,240
Average Annual Savings
See immediate savings and watch them continue to stack up year after year.
40%
Lower Monthly Payment
Trade the unpredictable electric bill for a lower, price-protected solar payment.
$0
Upfront Cost of Solar
With the incentives available in Massachusetts, the switch to solar is easy.
Thayer Street & Beyond
Rhode Island is steering the path to a sustainable future, illuminated by solar power. Our state has consistently been a pioneer in environmental initiatives, making it no shock that RI boasts some of the most attractive solar incentives and rebates around. It's time to spotlight the most significant solar savings nationwide, all available right here in the Ocean State.
RI Electric Rates: Very Costly
Rhode Island energy rates are increasing faster than the number of Newport tourists in the summertime. We may be the smallest state, but we pay big bucks for electricity – a whopping 30% more than the national average. And just when we thought it couldn’t get any worse, 2022 hit us with a 50% electric rate hike.
But don’t sweat it, Rhode Island – solar power is here to save the day and help you take control of your energy costs.
Rhode Island Solar Incentives and Rebates
The ocean state has some of the best solar incentives and state-funded programs around.
1.
30% Federal Solar Investment Tax Credit (ITC)
You can claim a tax credit for 30% of the total cost of your solar system. While this can be claimed by the homeowner when the solar panels are purchased, this credit has also reduced the cost of leasing solar panels, making the switch to solar more affordable today than ever. In order to claim the full tax credit for ownership, you need to have enough tax liability. If you don’t have tax liability, other options like leasing or or power purchase agreements may be better options.
2.
Property Tax Exemption for Renewable Energy Systems
Rhode Island homeowners are exempt from paying any additional property taxes on the added home value from their Rhode Island solar panel system.
3.
Renewable Energy Sales Tax Exemption
Rhode Island Homeowners are exempt from paying the normal 7% state sales tax on their solar panel system.
4.
Rhode Island Renewable Energy Fund
Some Rhode Island residents may qualify for up to $7,000 in state grant funds designated for green energy programs.
5.
Rhode Island Net Energy Metering
Rhode Islanders earn a utility credit for any energy that they overproduce. This credit can then be used to power your home at night and on cloudy days. This allows you to power your entire home without relying on solar batteries.
Rhode Island
Solar Incentives and Rebates
The ocean state has some of the best solar incentives and state-funded programs around.
30% Federal Solar Investment Tax Credit (ITC)
You can claim a tax credit for 30% of the total cost of your solar system. While this can be claimed by the homeowner when the solar panels are purchased, this credit has also reduced the cost of leasing solar panels, making the switch to solar more affordable today than ever.
In order to claim the full tax credit for ownership, you need to have enough tax liability. If you don’t have tax liability, other options like leasing or or power purchase agreements may be better options.
Property Tax Exemption for Renewable Energy Systems
Rhode Island homeowners are exempt from paying any additional property taxes on the added home value from their Rhode Island solar panel system.
Renewable Energy Sales Tax Exemption
Rhode Islanders are exempt from paying the normal 7% state sales tax on their solar panel system.
Rhode Island Renewable Energy Fund
Some Rhode Island residents may qualify for up to $7,000 in state grant funds designated for green energy programs.
Rhode Island Net Energy Metering
Rhode Islanders earn a utility credit for any energy that they overproduce. This credit can then be used to power your home at night and on cloudy days. This allows you to power your entire home without relying on solar batteries.
How to Claim the RI Solar Energy Incentives
We take care of everything aside from filing your taxes for you next year. While you should certainly consult a tax professional, we always make sure our customers are taking full advantage of any federal and state solar incentives. This includes providing alternative options such as leasing or power purchase agreements in the event that you don’t qualify for the incentives.
Can you get free solar panels in Rhode Island?
While you can’t technically get “free” solar panels anywhere, they are “free” in the sense that you can expect to pay less for solar than you already do for electricity — and it costs nothing to make the switch.
So you’re swapping out an unpredictable and constantly increasing electric bill for a price protected solar payment that is usually about 40% lower. While it isn’t exactly “free”, it’s about as close as it gets.
