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Solar Incentives Going Away? What to Know and How to Take Advantage in Rhode Island Before It’s Too Late ☀️⚠️

  • Writer: Spencer Gradley
    Spencer Gradley
  • Mar 30
  • 2 min read

If you’re a Rhode Island homeowner thinking about going solar, now is the time to act. With some federal and state solar incentives under review and others sunsetting in the coming years, waiting could cost you thousands in missed savings. 💸

Here’s what you need to know about the current benefits, what could change, and how to lock in the best solar incentives before they’re gone. ⏳


Why Solar Incentives Matter in Rhode Island 💰

Solar incentives are financial programs that reduce the cost of installing solar panels on your home. These include:

  • Federal Solar Tax Credit (ITC)

  • Rhode Island Renewable Energy Fund (REF) Grant

  • Renewable Energy Certificates (RECs)

  • State-level net metering policies

These programs combined can reduce the cost of a home solar system by 30-50% or more—but only if you act before they begin to phase out.


Key Incentives You Can Still Claim (for Now) 📝


1. Federal Investment Tax Credit (ITC) – 30% Through 2032

The ITC allows homeowners to deduct 30% of the cost of their solar system from their federal taxes. This incentive is set to decrease in 2033 unless extended by Congress. Source: Department of Energy

⏳ Expires: Phases down starting in 2033


2. Rhode Island REF Grant – Up to $5,000

Administered by Commerce RI, the Renewable Energy Fund (REF) offers up to $5,000 in direct grants for residential solar installations. The program is funded in rounds and is first-come, first-served, meaning funds may run out if demand spikes.

⏳ Limited availability each year—apply early! 🔗 REF Program Info


3. RECs – Earn Income from Solar Energy

When you generate clean energy, you also generate Renewable Energy Certificates (RECs). Homeowners in Rhode Island can sell these RECs for extra income, though values vary with the wholesale electricity market (currently around $0.03/kWh).

📈 Every 1,000 kWh = 1 REC = Passive income!


Why You Should Act Now ⏰

Delays in going solar could mean:

  • Losing out on the 30% tax credit when it starts to phase down

  • Missing REF grant cycles or applying after funds are exhausted

  • Lower REC values or reduced eligibility in the future

You also risk higher installation prices as demand increases with incentive deadlines approaching. 📈


Beyond Incentives: 5 Benefits of Going Solar 🌞 (via U.S. Dept. of Energy)

The Department of Energy highlights several long-term benefits to installing solar:

  1. Reduced Electric Bills

  2. Protection Against Rising Energy Costs

  3. Low Maintenance Costs

  4. Increase in Home Value

  5. Environmental Benefits


Next Step: See What Your Home Qualifies For 🏡

The best way to find out how much you can save is by scheduling a free consultation with a local solar expert. We’ll help you understand your eligibility, apply for grants and tax credits, and explore zero-down financing options if available.

📅 Book a Free Solar Consultation Today:




⚡ Act now while incentives last—your future energy savings start today!


 
 
 

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