Solar and a Home Battery
One of the best times to install solar panels is now, and the state has favorable incentives to encourage this environmentally friendly move. There are 30 solar companies in Rhode Island, and more than 1,000 people work in the industry. Purchasing solar panels is far more affordable than leasing, and is the best way to take advantage of the federal tax credit. Additionally, buying solar panels will allow you to save more money over the long term.
In addition, homeowners in rhode island solar can take advantage of the state’s property tax exemption for solar systems. The state also has a program in place that allows residents to receive credit for any solar energy they produce. This program, called net metering, is mandatory and rewards customers who install solar and battery systems on their property.
Choosing to install solar panels on your home is an excellent way to reduce your monthly electricity costs and improve your home’s value. It also contributes to the clean energy economy in your state, which will create jobs and boost the local economy. Furthermore, it protects public health and the environment. In Rhode Island, solar panels are permitted on most homes, and they can provide heat and electricity. You may even be able to use your home’s energy for home and business purposes!
Solar and a Home Battery in Rhode Island
Net metering is a state incentive for solar energy, and some utilities offer it for a lower cost than the retail rate. However, it’s important to check with your utility to make sure their policy supports your installation. A good rule of thumb is to find a utility that will let you sell any excess solar energy back to the grid, and receive credits equal to the full retail price of electricity. Any unused credits roll over to the next month, and can offset your future electricity costs.
In addition to saving money, solar energy is also good for the environment. When installed on your home, a small solar panel system will save you money for the next 10 years. It also helps the environment by reducing your carbon footprint and reducing your contribution to pollution. Furthermore, switching to solar power will allow you to upgrade household appliances, production machinery, and electronics without worrying about rising electric bills.
The average rooftop solar installation in Rhode Island will cost between $14,000 and $20,000, but the average payback period is less than 10 years. With the 30% federal solar tax credit, your payback can be reduced to five years. In addition, you can also take advantage of net metering in order to get the maximum benefits from your investment in solar power.
Another great incentive to install solar power in Rhode Island is the Renewable Energy Growth Program (REC). This program, administered by the Rhode Island Commerce Department, pays homeowners 31 cents per kilowatt hour of solar energy for 15 years. The best part? This program works alongside the federal tax credit and is available to any Rhode Island resident.