Rhode Island may be small, but solar power is having an ocean of success in the state. Solar panels are a popular choice for clean power in Rhode Island because the state has some of the highest electricity rates in the country.
Rhode Island gets an abundance of sunny days throughout the year, and sunshine is all you need to free yourself from that high electricity bill from your utility. Install solar panels to transform sunshine into a clean, reliable, and affordable energy source. With solar panels from Direct Energy Solar, you can declare energy independence, lower your electricity bill, and do your part to protect the planet.
Now that’s an ocean of benefits.
According to the U.S. Energy Information Administration (EIA), Rhode Island is one of the top ten most expensive states in the country for residential electricity—March 2017 rates averaged at $.180/kWh! Only six states had higher rates.
And while there are occasional dips in prices, electricity rates in Rhode Island are trending upwards. This table was compiled using Rhode Island electricity rate data provided by the EIA.
That’s more money back in your pocket to spend on more important things than utility bills. Just think of the possibilities.
Rhode Island Solar Snapshot
Small state, big solar savings! According to the SEIA, $8 million was invested on solar installations in Rhode Island in 2014, and there’s enough solar energy installed in the state to power 2,610 homes.
The Solar Investment Tax Credit (ITC) is a very generous federal solar incentive that allows you to claim a tax credit for 30% of the total cost of installing your solar system.
It will remain at the 30% level until the end of 2019 and will then ramp down incrementally through 2021. After 2023, the residential credit will drop to 0% while the commercial credit will drop to a permanent 10%.
We’ve prepared a checklist you can use to ensure you meet the criteria for this incentive, with links to the forms needed.
Direct Energy Solar installation in Rhode Island
Rhode Island Renewable Energy Fund (RIREF) provides grant opportunities that offset the upfront cost of qualifying residential and commercial solar systems. The current grant incentive is $1.10/W up to 10 kW, capped at $10,000.
Under this program, customers will be paid by National Grid for their solar production via a Feed-In Tariff (FIT). The customer can opt to select either a 15 year or 20 year FIT (20 year FIT for non-residential customers). The tariff rates per kilowatt hour differ depending on the length of the agreement and depending on the size of the system.
The incentive for systems 10 kW and under:
For systems 11-25 kW, only the 20 year term is available and the FIT rate is $0.2490/kWh.
Rhode Island utility companies are required to participate in the net metering program. Net metering allows homeowners and businesses that generate excess energy with their solar system to offset the cost of power drawn from the utility.
When your net meter sends back to the grid any excess solar electricity that your solar system generates, you’ll receive the full retail value of that electricity.
At the end of each billing cycle, if you send more electricity back to the grid than you used, you earn credit towards your next bill.
Looking for more information about Rhode Island state policy, solar incentive information, statistics, and electricity rates?
We’ve compiled a list of useful links for you. When you meet with us, we’ll show you what incentives you are entitled to.
Direct Energy Solar combines the reliability and skill of a national solar company with personalized service and local knowledge. Going solar is an exciting decision! We can help you harness the sun’s full potential for your home in Rhode Island and are devoted to delivering the most carefree solar experience.
195 Constitution Drive
Taunton, MA 02780
Find out if you are in our service territory and if you are a good fit for solar by requesting your free solar quote.