Nation's Unique REG Program - Get Paid DOUBLE Retail Rates!

Rhode Island's Renewable Energy Growth (REG) program is unlike any solar incentive in America. Instead of standard net metering, REG pays you a fixed premium rate for ALL electricity your solar system produces for 15-20 years—regardless of whether you use it or not. Current REG rates reach up to $0.3385/kWh (33.85 cents) for small residential systems, while Rhode Island's retail electricity rate is only ~$0.19/kWh. This means you're paid nearly DOUBLE what you'd pay for electricity! A typical 10 kW system generating 12,000 kWh annually earns $4,062 per year in REG payments ($0.3385 × 12,000). Over 20 years, this generates $81,240 in guaranteed solar income. You continue buying electricity at retail rates (~$0.19/kWh), so REG creates pure profit on top of bill offset. Many Rhode Island homeowners report their monthly REG checks exceed their old electric bills. CRITICAL: HB 6203 proposes repealing REG entirely. Systems enrolled NOW are protected through their full 15-20 year contract term. Don't wait—REG enrollment capacity fills quickly each April.

Highest Electricity Rates in the Nation ($0.28-0.31/kWh)

Rhode Island ranks 5th highest in the nation for electricity rates, with current average residential rates at $0.28-0.31/kWh—53% above the national average of $0.19/kWh. The average Rhode Island household pays $243/month ($2,916 annually) for electricity—7th highest monthly bill in America. Winter 2024-2025 saw dramatic rate volatility: RI Energy's Last Resort Service spiked 57.7% (from $0.104/kWh summer to $0.164/kWh winter), driven by natural gas dependence and regional energy market volatility. With 91% of Rhode Island's electricity generated from natural gas, rates fluctuate wildly with global fuel markets. Solar locks in fixed energy costs and protects against future spikes—particularly valuable given Rhode Island's extreme rate volatility and dependence on fossil fuels.

30% Federal Tax Credit (Expiring December 31, 2025!)

The federal Investment Tax Credit (ITC) allows you to deduct 30% of your total solar system cost from your federal taxes. For a $30,000 solar system, this means $9,000 in tax savings—a direct dollar-for-dollar reduction in your IRS tax bill. CRITICAL: The 30% federal tax credit expires December 31, 2025—systems must be operational by year-end to qualify. Congressional legislation has been proposed to terminate the residential credit on this date. This is your final opportunity to claim the full federal incentive before it potentially disappears entirely. Combined with Rhode Island's REG program ($81,240 over 20 years), state tax credit ($1,000), and REF grant ($5,000+), the federal credit makes 2025 the most financially compelling year ever for Rhode Island solar.

15% State Tax Credit (Up to $1,000) + $5,000+ REF Grant

Rhode Island provides two powerful state incentives:

• 15% State Tax Credit: Rhode Island offers a state income tax credit equal to 15% of solar system costs, capped at $1,000. On a $30,000 system, you receive the full $1,000 state credit. This credit can be claimed alongside the 30% federal credit—both apply to the same installation, providing combined tax savings of $10,000 on a typical system.

• REF Grant ($5,000+ Upfront): The Renewable Energy Fund provides upfront grants calculated at $0.65/watt (capped at $5,000), plus a $2,000 energy storage adder if adding batteries. A typical 10 kW system earns $5,000 REF grant + potentially $2,000 storage = $7,000 total upfront discount applied immediately at installation. Important: REF grants CANNOT be combined with REG program—you choose one or the other. REF pairs with net metering; REG is standalone. Your installer handles REF applications through RI Commerce Corporation.

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Full Retail Net Metering (Up to 125% of Usage)

For homeowners choosing net metering instead of REG, Rhode Island offers excellent full retail rate credits. Excess solar sent to grid earns credits at full retail rate (~$0.19/kWh) for up to 100% of monthly usage. Credits cover up to 125% of annual consumption—meaning you can oversize your system 25% beyond usage and still receive full retail credits. Any excess beyond 125% compensated at avoided cost rate (lower than retail). Credits roll over month-to-month, allowing summer overproduction to offset winter usage. CRITICAL: HB 6202 proposes moratorium on new net metering contracts. Systems interconnected NOW are grandfathered with existing net metering benefits protected long-term.

7% Sales Tax Exemption + 20-Year Property Tax Exemption

Rhode Island provides two additional tax advantages:

• 7% Sales Tax Exemption: All solar equipment and installation costs exempt from Rhode Island's 7% sales tax. On a typical $30,000 system, this saves $2,100 upfront—money that stays in your pocket from day one.

20-Year Property Tax Exemption: Solar systems increase home values by 4-6% (roughly $15,000 for typical installation), but Rhode Island exempts this added value from property taxes for 20 years. You gain thousands in home equity without any property tax increase—ongoing savings throughout system lifetime.

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5-7 Year Payback - Among Fastest in America

Rhode Island solar systems pay for themselves in just 5-7 years—one of the fastest payback periods in the nation. After applying 30% federal credit ($9,000), 15% state credit ($1,000), and REF grant ($5,000-$7,000) OR enrolling in REG program, combined with Rhode Island's extreme electricity rates and exceptional incentive stacking, solar delivers unmatched ROI. With REG program generating $4,000+ annually for 20 years, total lifetime solar value reaches $130,000+ (electricity savings + REG income + tax credits + grants). After 5-7 year payback, you continue receiving REG payments and free electricity through years 15-30+. Rhode Island offers America's most financially rewarding solar landscape—if you act before legislative changes.