Rhode Island Incentives
- 30% Federal Solar Investment Tax Credit (ITC)
You can receive a tax credit equal to 30% of the total cost of your solar system. This benefit is available to homeowners purchasing solar panels and has also made leasing options more affordable. To fully utilize this credit, you need sufficient tax liability. If you don't have enough tax liability, exploring alternatives such as leasing or power purchase agreements might be more advantageous. - Property Tax Exemption for Renewable Energy Systems
In Rhode Island, homeowners do not face additional property taxes on the increased value of their home from installing solar panels. - Renewable Energy Sales Tax Exemption
Rhode Island homeowners are exempt from the state's 7% sales tax on solar panel systems. - Rhode Island Renewable Energy Fund
Certain Rhode Island residents may be eligible for grants up to $7,000 through state-funded green energy programs. - Rhode Island Net Energy Metering
Rhode Islanders receive utility credits for any excess energy produced by their solar panels. These credits can be used to power your home during the night or on cloudy days, reducing the need for solar batteries.