Newport Solar likes to stay in touch with what is going on…here are a few excerpts from articles about the Solar Rhode Island industry:
RI SEEN AT “EMERGING MARKET” FOR SOLAR ENERGY PNB / PROVIDENCE BUSINESS NEWS
“Newport Solar got 28 new projects this year – 27 homes and one restaurant – as a result of the Rhode Island Renewable Energy Fund program for small-scale solar projects. “It’s made me very busy,” said Newport Solar President Doug Sabetti, who has 30 years of construction experience and launched the specialty solar business in 2009. “The funding pays for 25 percent of the installed cost of the project,” said Sabetti. “The past few years, there was no incentive in Rhode Island and my business was absolutely flat. I had three solar projects in 2010, two in 2011 and two in 2012.” Several initiatives in the past couple of years are encouraging renewable energy projects, especially solar, to expand in the Ocean State.”
NEW PROGRAM DESIGNED TO HELP RI HOMEOWNERS INVEST IN SOLAR PANELS AND OTHER CLEAN-ENERGY PRODUCTS PROVIDENCE JOURNAL
PROVIDENCE — The General Assembly has passed a bill that aims to bolster investment in renewable energy and improve energy efficiency.
“The legislation creates a new financing option for homeowners, allowing those in participating communities to apply for a special loan for energy upgrades. Because the loan would ideally increase the property value, it would stay with the property if it transfers to another owner before being paid off. The idea behind the new program, known as Property Assessed Clean Energy, or PACE, is to remove a barrier to energy improvements. Because the upfront cost of, say, installing solar panels is high, some Rhode Islanders may be deterred from making the investment. But through PACE, a homeowner can invest in a new energy system without breaking the bank, according to its supporters. The costs are paid off over 10 or 20 years.”