Why Go Solar in the State of Rhode Island?
Rhode Island is ranked as 25th solar states in the US. Rhode Island renewable energy sectors have flourished during the last decades, harnessing carbon free energy and creating solar jobs. Using different incentives, Rhode Island aims to make solar more attractive and affordable. The incentives include Federal Solar Tax Credit, $1.00/W up to $8,000, Property Tax Exemption, and Renewable Energy Systems Sales Tax Exemption. Rhode Island solar panel system can make you energy independent. Moreover, you can save you a lot of cash over its life time. The state has made a dedicated effort to make investing in solar an easy choice for energy-conscious consumers.
National solar ranking
28th (25th in 2020)
Solar Installed (MW)
Percentage of State’s Electricity from Solar
Total Solar Investment in State
Prices have fallen
45% over the last 5 years
Growth Projection and Ranking
385 MW over the next 5 years (ranks 39th)
Number Of Installations
Is going solar worth in Rhode Island?
The Rhode Island solar panel system installation ranges from $12,410 to $16,790. The cost per watt ($/W) ranges from $2.48 to $3.36. As the electricity rates in Rhode Island are 21% higher compared to the national average, the Pennsylvania solar panel user can enjoy the return on investment in 7.56 years.
Many users prefer cash purchase pay for solar, which delivers a long-term value to the customers. The users can opt for different financing options to afford installations, including solar leases, PPAs, and solar loans.
What solar panels should I install in Rhode Island?
The user can customize their solar panels according to their needs and demands. They can choose the batteries and aesthetic of the installation. The customizability increases the importance of understanding the various factors that can impact the solar panel’s performance. The solar panel with warranties and premium performance is more expensive. On the other hand, an in-depth analysis is required if high-efficiency solar panels and warranties can fit your needs.
How much energy can users generate in Rhode Island?
Your solar panel performance depends on the quality and quantity of sunlight directly hitting your solar panel. Rhode Island is one of the sunniest states in the U.S. On average, Rhode Island has 202 sunny days annually. The state is known for its rain, sleet, hail that falls to the ground, and snow. The other factors which can have an impact on the Rhode Island solar panel system include the following:
- Panel orientation
- Panel angle
Rhode Island Weather Highlights
The July high is around 82 degrees
The January low is 19
Averages 50 inches of rain a year
Averages 35 inches of snow a year
Rebates and incentives
The federal Investment Tax Credit has been one of the most impactful and reliable incentives for solar across the U.S. the user can deduct 26% of the total system cost from his/her federal taxes. This good incentive lasts until the end of 2022, and from 2023 the tax credit amount steps will decrease to 22%. The federal ITC is eliminated for residential solar installations after 2023, but commercial solar energy system owners can still deduct 10% of a retail solar system cost from their taxes beyond 2023. Apart from the federal ITC, Rhode Island offer additional incentives for going solar, including the following:
Federal Solar Investment Tax Credit
26% federal solar tax credit is available for home solar systems installed by December 31, 2022
$1.00/W up to $8,000
Property Tax Exemption
Average savings $15,000
Renewable Energy Systems Sales Tax Exemption
100% sales tax exemption
If you are living in Rhode Island, it is the right time to get solar. You can harness solar energy if the solar panels are getting enough sunlight. Moreover, the panels are placed in a direction where PVs can receive sunlight quickly and continuously. The number of hours the sun shines in the region is also critical. Furthermore, the state is going the extra mile to offer attractions and incentives to promote solar energy. If you want to go solar in Rhode Island, wait no more. We, with our team of skilled experts, can make the process easy and convenient. Wait no more, and lets us serve you with excellence.