Rhode Island Incentives
Offering businesses and residents reliable access to the best renewable energy systems in North America, 123SolarPower is your go-to resource for solar installation and sales. With the largest network of industry-leading solar power experts in the U.S. and Canada, we connect homes and companies with the installation professionals and high-tech solutions that provide state-of-the-art energy savings. Don’t worry when you reach out to us your solar installation quote Rhode Island is free of charge, no strings attached.
With providers located conveniently across the continent, our localized teams are available to provide you with the information you need to put the sun’s energy to good use. Our solar panels Rhode Island division is dedicated to helping you go solar at a great price, and saving even more once you’re free from your utility bill.
Rhode Island Solar Power
As the smallest state in the country, Rhode Island is certainly a bit of an underdog compared to other states’ solar power rankings. But as the northeast region is set to feel the impact of climate change the hardest, Rhode Island is one of the growing number of states who are taking climate adaptation seriously. With a renewable energy industry on the rise, Rhode Island citizens are quickly learning how solar power can benefit their lives.
The costs of solar panels for sale Rhode Island before rebates and subsidies is cheaper than many other states, averaging under $20,000 per household or business. Monthly cost savings average around $100. Rhode Island is a prime example of a state with significant solar potential.
State Tax Incentives
To inspire Rhode Island residents and businesses to go solar, the state offers a number of Rhode Island home solar incentives such as tax exemptions, grants, PACE financing, and utility rebate programs.
Rhode Island’s Property-Assessed Clean Energy (PACE) financing program provides loans to property owners to invest in energy improvements such as photovoltaic systems, as well as other renewable energy technologies. Performance based incentives provide up to 29.95 cents per kilowatt-hour of solar power generated energy. This means you could be paid for the solar electricity your system produces. An increased property tax exemption is available for solar water heat, solar space heat, and photovoltaic systems. There is also a 100% sales and use tax exemption on solar power systems.
Federal Tax Incentives
There are federal tax incentives available as well for residential solar power Rhode Island users in addition to any state incentives. The Energy Policy Act of 2005 allows for a 30% investment tax credit on the installation and use of photovoltaic, solar heating and cooling, and solar concentration systems. These tax credits are meant to support and encourage residential and commercial investment in renewable energy sources.
The 30% tax credit has been extended through 2016 as of 2008. Any credits that your system generates beyond your yearly income tax can easily be rolled over into next year’s tax return. Filing for the 30% tax credit is simple. All you need to do is include an additional form (IRS form 5695) along with your yearly tax return.
123SolarPower is the best solar sales and installation expert in Rhode Island. When you need professional service and access to industry-leading equipment, the 123SolarPower team is your number one choice. We can provide you with personalized options that fit your electricity and power needs. Our providers will work with you to understand all the solar savings available to you.
Help For All Rhode Island Residents
For a free estimate of installation costs and a rundown of the energy and financial savings you can receive by working with us, simply provide us a little information about your project in the form above or call us at 800-294-2397 and we will connect you with a local expert.
