Rhode Island Solar Incentives
Despite being the smallest state in the USA, Rhode Island certainly punches above its weight in terms of its solar policies. Rhode Island’s solar incentives are some of the best in America!
As a resident of Rhode Island thinking about going solar, there are a few main state programs that you need to know about. Combined with the 30 percent Investment Tax Credit (ITC) from the federal government, these incentives help make your new solar energy system a great investment.
Small-scale solar grants
This solar grant program gives proud new solar owners $0.90 per watt via the installing company, up to $7,500. This means that if you mount an average 5-kilowatt system on your roof, you’ll receive $4,500 in cash right then and there.
Property and sales tax breaks
Thanks to the Residential Solar Energy Property Tax Exemption, your property taxes will not increase as a result of the value your new solar panels add to your home. Additionally, due to the Renewable Energy Products Sales and Use Tax Exemption, you will not have to pay any tax on your purchase of your new solar energy system. Think of it as buying your system at a duty-free store!
Net Metering in Rhode Island
When you put solar panels on your roof, you want to make sure you get credit for all of the power your system generates. Luckily, Rhode Island has a net metering policy that credits you for the extra electricity your system produces, and allows you to use those credits when your system doesn’t generate enough power. National Grid offers the top utility net metering program in Rhode Island.