RHODE ISLAND SOLAR INCENTIVES

Solar Incentives in the Ocean State

Rhode Island offers a number of incentives for businesses to switch to solar energy, making it an attractive option for commercial property owners. Rhode Island’s Renewable Energy Fund provides grants and loans for solar projects, and the Rhode Island Solar Rebate Program offers a rebate of up to $1.5 per watt of installed capacity. In addition, Rhode Island has a net metering program that allows businesses to sell excess electricity generated by their solar panels back to the grid. These incentives make Rhode Island an ideal place for businesses to invest in solar energy.

 

Renewable Energy Growth Program

The Renewable Energy Growth (REG) program has a goal to promote installation of grid connected renewable energy within the load zones of electric distribution companies (EDCs) at a reasonable cost. This tariff-based incentive program is designed to finance the development, construction, and operation of renewable energy distributed generation projects. The REG program has target install total of 160 MW of distributed renewable energy during its five-year term.

Renewable Energy Class
(Nameplate KW)		 Annual Enrollment
Target (Nameplate MW)		 Third Open
Enrollment Target (Nameplate MW)		 Ceiling price (including
ITC/PTC & Bonus Depreciation)
(cents/kWh)		 Term of Service
(years)
Medium-Scale Solar,
(26-250 kW DC)		 3 0 21.15 20
Commercial-Scale Solar,
(251-999 kW DC)		 8.244 4.269 18.25 20
Large-Scale Solar,
(1,000-5,000 kW DC)		 18.294 0.224 13.65 20
Community Remote DG Commercial Solar (251-999 kW DC) 3 2.3 20.99 20
Community Remote DG Large Solar (1,000-5,000 kW DC) 3 3 15.7 20

 

https://programs.dsireusa.org/system/program/detail/5523/renewable-energy-growth-program

Commercial Scale Renewable Energy Grants (Commerce RI)

Rhode Island Commerce Corporation (Commerce RI) seeks to fund commercial scale renewable energy projects generating electricity for onsite- consumption. Commerce RI provides incentives for renewable-energy projects. The program has different incentive levels for directly owned systems and third party owned systems. Incentive amounts are as follows:

Direct Ownership Third Party Owned System Size
$1.05/W $0.70/W For the first 0-50kW
$0.90/W $0.55/W For the 2nd 50kW (up to 100 kW)
$0.75/W $0.40/W For the 3rd 50 kW (up to 150 kW)
$0.60/W $0.25/W For the 4th 50 kW (up to 200 kW)
$0.45/W $0.25/W For the 5th 50 kW (up to 250 kW)
$0.30/W $0.25/W For all installed capacity over first 250 kW

 

Commercial Scale Incentive is capped at $200,000 per project for directly owned systems and $100,000 per project for third party owned systems.

https://programs.dsireusa.org/system/program/detail/5362/commercial-scale-renewable-energy-grants-commerce-ri

Small Scale Solar Grants (Commerce RI)

Rhode Island provides financial grants for small scale solar photovoltaic systems and domestic solar water heating systems to help reduce energy costs and increase renewable energy adoption. The program is funded by the Rhode Island Renewable Energy Fund (REF) and alternative compliance payments (ACPs) from the state’s renewable portfolios standard (RPS). Systems that are directly owned (DO) and Third Party Owned systems have separate applications with different incentive levels. Solar PV systems are eligible up to $10,000 grant at an incentive of $1.05/ W for directly owned systems, and maximum of $5,000 grant at incentive for $0.70 for third party owned systems.

https://programs.dsireusa.org/system/program/detail/5361/small-scale-solar-grants-commerce-ri

Renewable Energy Products Sales and Use Tax Exemption

Certain renewable energy systems and equipment sold in Rhode Island are exempt from the state’s sales and use tax. This allows 100% tax exemption.

https://programs.dsireusa.org/system/program/detail/1237/renewable-energy-products-sales-and-use-tax-exemption

Local Option – Property Tax Exemption for Renewable Energy Systems

Rhode Island allows cities and towns to exempt, by ordinance, renewable energy systems from property taxation.

https://programs.dsireusa.org/system/program/detail/2801/local-option-property-tax-exemption-for-renewable-energy-systems

Agricultural Energy Program

The Agricultural Energy program provides grants to agricultural businesses in the state to improve their energy efficiency and promote adoption of renewable energy technologies. The business must have produced at least $2,500 in annual income from farming operations. The program provides grants up to $20,000 to help with direct cost associated implementing the project.

https://programs.dsireusa.org/system/program/detail/21861/agricultural-energy-program

Genie Energy Ltd., (NYSE: GNE, GNEPRA) is a global energy solutions company. We supply customers in the US and Europe with electricity, including electricity generated from renewable resources and with natural gas. Through Genie Solar Energy and Prism Solar, we design, construct and install commercial solar energy solutions. We provide commercial and industrial clients with energy brokerage and consultative services through our Diversegy brand.

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Testimonials

Convinced to go solar by the New Jersey incentives, PCS Wireless looked at several solar companies to provide the best overall value. Genie Solar was able to design a unique system to offset the largest portion of their electricity usage. Additionally, we combine it with an exclusive financial product which minimized the cash out of pocket and maximized the return on investment. The 494 kW system was constructed in minimal time, with no impact on the businesses operations.
PCS Wireless
A provider of engine-generator systems, Kraft Power was a pioneer of “Total Energy” (Combined Heat and Power). After seeing the financial and green benefits of solar at their headquarters in Massachusetts, Kraft wanted to capitalize on the lucrative state incentives in New Jersey at a distribution center. By installing a 57.5 kW system on the roof they were able to offset 100% of their electricity usage, take advantage of the Investment Tax Credit, accelerated depreciation, and collect revenue from the New Jersey SREC program. Genie Solar made it a smooth process and limited the need for internal resources to manage the project.
Kraft Power
A premier provider of water treatment in the New York and New Jersey area, Tower wanted to go solar to save money and generate clean energy. Upon reviewing the financial benefits available in New Jersey with the SREC program and the federal Investment Tax Credit, they wanted to safe harbor the project in 2019 and construct in 2020. Buying American Made panels was an important component of the project, and by utilizing their white roof, Genie Solar was able to leverage Prism Solar’s bifacial panels to minimize the square footage needed and maximize the electricity generated. Genie Solar helped them achieve all of their goals in an efficient manner with a 44.6 kW system.
Tower Water
Cardoza had both a showroom and a distribution center with exorbitant electricity costs in New Hampshire. As a legacy business, it was important to reduce costs and protect the business from increasing expenses prior to passing it on to the owner’s children. The show room’s roof and location made it a less than ideal location for solar; but the vast roof and direct sunlight on the distribution center could generate enough solar to power both facilities, plus the owner’s house. Leveraging New Hampshire’s group host program, Genie Solar built one 99.7 kW solar array to power all three locations. The owner is now considering converting more equipment to solar and building a second array.
Cardoza Flooring
A destination nursery in rural New Hampshire, HBTSR was a long standing customer of Genie Solar’s sister company, Diversegy. After helping the business reduce electricity expenses for the past number of years, HBTSR turned to Genie Solar to reduce their rising electricity expenses over the long run. “Between the federal and NH state incentives, I was paid $8,000 to install my solar array. On top of getting money back, I am going to realize over $300,000 in savings during the 25 year warranty period of the solar array.”
House By The Side of the Road