MAKE AN IMPACT IN THE OCEAN STATE
Why go solar in Rhode Island
Rhode Island is a very suitable location for efficient solar power generation: the state averages 5 kWh of solar energy per square yard, which is more than Germany (a world leader for solar). Many Rhode Island homeowners go solar to reduce their energy bills and make a positive sustainability impact.
Solar incentives in Rhode Island*
The Rhode Island sales tax exemption for renewable energy products includes all equipment and components in a solar energy installation, freeing you from paying solar sales tax. The Property tax exemption for renewable energy resources also prevents you from paying additional property taxes. Qualified homeowners can also take advantage of the Property Assessed clean Energy (PACE) program that allows you to repay your loan with property tax payments. Finally, the Renewable Energy Fund (REF) is a limited availability program that helps fund solar deployments, including for small scale projects that include single homes. The Renewable Energy Growth program by National Grid compensates solar owners for the electricity their system produces which is fed back into the grid. There are also be net metering available under certain utilities.***
Rhode Island homeowners are also eligible for the Solar Investment Tax Credit (ITC).**** The ITC allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes.
Solar panels perform in all kinds of weather
Going solar is a big decision, and although there are many factors you should consider, local weather shouldn’t be a deterrent. Solar panels are designed to work in almost any type of weather… even snow and clouds!
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*This information is current as of May 5, 2021 and figures are approximated.
**These figures are current as of May 5, 2021 and are only approximations.We advise you to consult with the appropriate professionals (including, but not limited to, your solicitor or attorney, accountant, CPA, CGA, or any other financial or legal advisor) for the implications of any information contained in our website and in any link you access through our website.
***customers are encouraged to check with their local utility providers for the most up to date and accurate information on solar incentives and programs available
****You should contact a qualified tax expert and consult with them. Neither Freedom Forever’s family of independent authorized dealers nor Freedom Forever itself can give you tax advice. A qualified tax professional will understand your situation and be able to give you the most relevant advice.