RI STATE INCENTIVES – Earlier this year there was a grant available for solar in Rhode Island but the program has ended for the year. A new incentive will be announced for the first of the year for residential and commercial solar systems. It will be anywhere from 25% off and up.
FEDERAL TAX CREDIT - Renewable energy systems are eligible for a no-cap federal tax credit of 30% of installed system cost. For details visit www.dsireusa.org and click on Rhode Island, then click on “see Federal Incentives”.
Low Interest Renewable Energy Loans and lease options – Financing is available with no money down through Admirals Bank. Explore your options at: http://www.admiralsbank.com/renewable-energy-lending
FEDERAL GRANTS - The USDA is offering grant money to farms and businesses through the Rural Energy for America Program Grants/Renewable Energy Systems/Energy Efficiency Improvement Program (REAP/RES/EEI) funding. Renewable energy systems and efficiencies of all kinds are eligible. For detailed information on the USDA grant program go to http://www.rurdev.usda.gov/rbs/busp/9006grant.htm .
For more details on available tax credits and other incentives please visit:
- Newport Solar is able to supply information regarding tax credits, however, we are not accounting professionals and suggest that you speak with your preferred tax advisor about your specific eligibility.