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Rhode Island Solar Incentives

Looking into buying a home solar system? If you’re a Rhode Islander, you’re in luck—with some of the very best cash incentives available in the country, the Ocean State is absolutely teeming with reasons to go solar.1

Generous benefits like net metering, the Renewable Energy Fund, and the Federal Tax Credit can all amount to a substantial return on your investment. It’s all the more reason to protect the paradise you know Rhode Island to be. Keep reading to learn more.

Rhode Island Solar Incentives, Rebates & Tax Credits

Solar Savings Types Value of Savings
Federal Solar Tax Credit (ITC) 30% of the total system cost
Renewable Energy Fund $1.00/W up to $8,000
Property Tax Exemption Avg Savings $15,0005
Renewable Energy Systems Sales Tax Exemption 100% sales tax exemption9

**Customer’s ability to monetize rebates, incentives and tax credits depends on several factors, including, without limitation, continued state subsidization of these policies, the applicable Sunrun product type, and whether a customer purchases or leases a solar system from Sunrun.

Rhode Island Solar Grants: Renewable Energy Fund

Households that go solar are eligible for a grant through Rhode Island’s Renewable Energy Fund.3 Eligible home solar systems are funded at a rate of $1.00/W, maxing out at $8,000. That means a 6kW solar system could earn you a grant of $6,000, saving you up to 25-30% on solar system installation costs.4 When you pair that with the generous Federal Solar Tax Credit, you could cover more than half the cost of buying a home solar system.  

Keep in mind that solar system owners that receive a grant from the Renewable Energy Fund are not eligible for National Grid’s Renewable Energy Growth Program. Over the long run, the Renewable Energy Growth Program may save you more than the Renewable Energy Fund. 

Property Tax Exemption

As a homeowner, you know that property tax exemptions can be a pretty big deal. So you’ll be pleased to hear that Rhode Island also employs a property tax exemption for home solar panels.5 And when solar systems can increase the value of your home by up to $15,000 on average, you can bet that it’ll amount to even more savings.6 The added value to your home from your solar system won’t be taxed, while getting you more bang for your buck if you decide to move.

Sales Tax Exemption

The price of solar systems has gone down by over 50% in the past 5 years7—but we’ll never turn down a way to keep saving. That’s why the Renewable Energy Systems Sales Tax Exemption8 is a welcome addition to the other incentives available, saving you at least 7% when you buy Rhode Island solar panels.9  

Federal Solar Tax Credit (ITC)

On top of Rhode Island’s state solar incentives, solar system owners are also eligible for the Federal Investment Tax Credit,10 or ITC, if you buy your own solar system outright.* The tax credit amounts to 30% of the cost of purchasing your solar system, but only after deducting the value of your state rebates. However, ITC credits will begin stepping down from 30% at the end of 2019. The tax credit for systems in service after 12/31/19 will drop to 26%. After 12/31/20, it’ll drop even further to 22%, and by 2022 the residential credit will drop to zero.11 That’s why the time to go solar is now. But not to worry—we can help you maximize on all the solar savings available to you.

Buy Solar Panels in Rhode Island

Our BrightBuy™ and BrightAdvantage™ plans give you the chance to buy your own solar system outright or through a hassle-free loan. We’ll create a customized agreement based on your individual needs. And by partnering with the top solar companies near you, you’ll also get a custom Rhode Island solar installation to meet the unique needs of your home and lifestyle.

See why customers have chosen to go solar with Sunrun. Want to see how much you could save? Get your free quote today.

Choose And Control Your Home Energy. See if you qualify for solar

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